Reported 11 months ago
Indonesia's President-elect Prabowo Subianto has agreed with the outgoing administration to allocate 71 trillion rupiah for his free meal program for school children without exceeding the budget deficit cap, easing market concerns. The proposed budget ensures the deficit remains below 3%, emphasizing quality spending to fully implement the program. Indonesian bonds and the rupiah rose, indicating confidence in Prabowo's commitment to prudent fiscal policy. The budget for the program will need parliamentary approval, demonstrating continued fiscal discipline between incoming and outgoing governments.
Source: YAHOO