Jakarta: Finance Minister Sri Mulyani predicted that this year's budget deficit will increase to 2.2% of the national gross product (GDP). She also admitted that the domestic economy will face economic uncertainties and threats of global economic slowdown.
“We hope that the deficit increase can maintain the domestic economic growth rate above five percent,” Sri Mulyani said here on Thursday, November 14, 2019.
Nevertheless, she believes Indonesian economic growth can reach 5.3 percent in 2020. She is also confident that economic indicators, such as poverty rate, can be improved through the government's development programs.
“Through these programs, Indonesia will be able to make history again for being able to
reduce the poverty rate below nine percent," she said.
In 2020, the global economic slowdown is expected to continue. As a result, the state
budget is expected to be used effectively and responsibly by stakeholders.
On the other hand, however, she added that the global economy is predicted by international organizations to experience a recovery in 2020 which will give positive impacts on all economies across the world. (Translator: Muhammad Gestinev)