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Risks of Removing Budget Deficit Cap

Monday, July 8, 2024

The government’s plan to remove the deficit cap on the State Budget could reduce investor confidence in the financial markets, sending the debt burden soaring.

arsip tempo : 173219327798.

The March 2024 edition of APBN Kita (Our Budget) press conference at the Finance Ministry building, Jakarta, March 25. TEMPO/Tony Hartawan . tempo : 173219327798.

THE risks outweigh the benefits. That is the danger of removing the fiscal deficit limit in the State Budget. According to Teguh Dartanto, the government’s plan to exceed the 3 percent deficit limit without urgent reasons—such as during the Covid-19 pandemic—could have fatal consequences for national fiscal policy.

“When there is no deficit control like during the New Order era, our debt burden, especially foreign de

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