Indonesia's Prabowo to allow debt-to-GDP ratio to reach 50%, FT reports
Hindustan TimesJAKARTA, - Indonesian President-elect Prabowo Subianto will allow the nation's debt-to-GDP ratio to rise to 50%, provided his administration can boost tax revenue, the Financial Times reported citing one of his closest advisers. Indonesia's Prabowo to allow debt-to-GDP ratio to reach 50%, FT reports Prabowo's brother and adviser Hashim Djojohadikusumo told the Financial Times in a London interview that Indonesia could retain its investment-grade credit rating even if the debt-to-gross domestic product ratio rises to 50%. The incoming government will maintain the status quo on the debt-to-GDP ratio, Sufmi Dasco Ahmad, the head of a team working on synchronising Prabowo's policy agenda with the current government, told Reuters on Thursday. The fiscal deficit under Prabowo's administration will be under 3% while the debt-to-GDP ratio will be maintained at around 40%, Airlangga Hartarto, chief economic minister and senior official at Prabowo's camp, told reporters on Thursday.
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