JAKARTA - President Joko Widodo (Jokowi) has reduced the budget deficit in the 2022 draft state budget (RAPBN) to 4.85 percent of gross domestic product (GDP). Meanwhile, in the 2021 State Budget, the deficit is set at 5.82 percent.
"The budget deficit for the 2022 RAPBN is planned at 4.85 percent of GDP or IDR 868.0 trillion", said Jokowi in his introductory Speech on the 2022 State Budget Bill along with the Financial Note, Monday, August 16.
The former governor of DKI Jakarta said that the 2022 deficit plan has an important meaning as a step to achieve fiscal consolidation. Moreover, in 2023 the budget deficit is expected to return to the highest level of 3 percent of Indonesia's GDP.
"The 2022 budget deficit will be financed by utilizing safe and carefully managed financing sources, while maintaining fiscal sustainability", he said.
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