Indonesian FinMin Indrawati: Bracing for wider fiscal deficit in 2020 amid coronavirus risks

Dhwani Mehta FXStreet

After unveiling a 10.3 trillion rupiah ($748.55 million) stimulus package on Tuesday to counter the negative impact of the coronavirus outbreak, Indonesian Finance Minister Sri Mulyani Indrawati said on Wednesday that the government is bracing for wider fiscal deficit in 2020 amid pressure from the virus epidemic.

Indrawati said: "I'm not a cheerleader, I am countercyclical. When you're happy, I collect your taxes. But when the economy slumps, I spend. When you're gloomy, I spend.”

The 2020 fiscal deficit forecast before the stimulus package was set at 1.8% of GDP, as cited by Reuters.

USD/IDR slips from 11-week top to sub-14,000 area despite floods in Jakarta

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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