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Prabowo Subianto’s Team and Sri Mulyani Present United Front, Affirm Commitment to Keeping Fiscal Deficit Under 3%

Jakarta — President-elect for the term 2024-2029, Prabowo Subianto, is committed to maintaining a low fiscal deficit in the State Budget (APBN), specifically under 3% relative to the Gross Domestic Product (GDP).

This was directly stated by the Indonesian Minister of Finance, Sri Mulyani, during a press conference on the Current Fundamental Economic Conditions and the 2025 State Budget at the Central Office of the Directorate General of Taxes, Jl. Gatot Soebroto, South Jakarta, on Monday (June 24).

“We have also conveyed this to the President-elect Prabowo, and he has assured us. The 2024 APBN will maintain its deficit below 3%, and this is a mutual commitment that has been communicated. He (Prabowo) is committed to a deficit under 3%,” revealed Sri Mulyani.

Sri Mulyani also disclosed that, according to the macro assumptions for the 2025 APBN, the government and the House of Representatives (DPR) have agreed that the budget deficit will be between 2.29% and 2.82% of the GDP.

“The posture of the 2025 APBN is still within range,” clarified Sri Mulyani.

Additionally, the announcement concerning the sustained management of the fiscal deficit also dispels rumors that the debt ratio would increase to 50% of the GDP.

“The position of the 2025 APBN Bill in this process, through continuous communication, coordination, and synchronization with the President-elect’s team, shows that there is no gap between the Bill we are drafting under President Jokowi and the priority programs that the new administration of the President-elect, Mr. Prabowo, wants and will implement,” explained the Minister of Finance.

At the same event, Thomas Djiwandono, a Financial Sector Member of the Prabowo-Gibran Government Transition Task Force, assured that the Prabowo-Gibran administration would not increase the debt ratio to 50% of the GDP.

“That’s not possible. Fundamentally, we remain committed to the targets currently planned by the government and that will be agreed upon by the DPR later,” he concluded.

Thomas emphasized that his team is committed to meeting the government and DPR-agreed targets in the upcoming 2025 State Budget.

“Fundamentally, we are committed to the targets that are currently planned by the government and have been agreed upon by the DPR,” said Thomas.

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