Indonesia maintains budget deficit below 3% of GDP as Middle East conflict boosts oil prices

channelnewsasia.com

Indonesia will adjust spending to keep its budget deficit below 3% of GDP amid rising oil prices due to Middle East conflict. The finance minister stated that if oil prices reach $90 per barrel, the deficit could widen to 3.6% without expenditure cuts. Indonesia imports a significant portion of its oil and LPG from the Middle East. The government is considering scaling back its free meals program to save funds and is exploring alternative oil import sources, including the US.


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Indonesia maintains budget deficit below 3% of GDP as Middle East conflict boosts oil prices | News Minimalist