The Indonesian parliament, yesterday, approved the government’s spending budget of 2,714.15 trillion rupiahs (about 190 billion U.S. dollars) for 2022, a legislator said.

The approved target is slightly higher than the earlier proposed budget of 2,708.68 trillion rupiahs (189.60 billion dollars), Bobby Adhityo Rizaldi, a member of the parliament’s budget committee, said, during a hearing at the House of Representatives in Jakarta yesterday.

Furthermore, the updated budget is also higher than this year’s budget outlook of around 2,697 trillion rupiahs (188.79 billion dollars).

Next year’s budget consists of 1,944.54 trillion rupiahs (136.11 billion dollars) allocated for the central government spending, and 769.61 trillion rupiahs (53.87 billion dollars) for the regional administration spending.

“The committee also agreed that next year’s economic growth projection was set at 5.2 percent,” said Rizaldi.

During the hearing, the committee also approved next year’s national revenue target at approximately 1,846 trillion rupiahs (around 129.22 billion dollars).

Therefore, both legislators and the central government agreed and set a fiscal deficit target of 868 trillion rupiahs (60.78 billion dollars) for 2022, roughly 4.85 percent of the country’s gross domestic product.

NAM NEWS NETWORK