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

After unveiling a 10.3 trillion rupiah ($748.55 million) stimulus package on Tuesday to counter the negative impact of the coronavirus outbreak, Indon  |  26/02/2020 04:03

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.

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