Indonesia says 2022 fiscal deficit may be under 4.85per cent of GDP

JAKARTA : Indonesia's fiscal deficit in 2022 may come in smaller than an original estimate of 4.85per cent of GDP due to a potential upside in revenues, the finance ministry's head of budget financing Luky Alfirman said on Monday.

Next year's debt strategy will be "opportunistic, flexible and prudent", depending on revenue generation and financial market conditions in a challenging year when central banks around the world are tightening monetary policy, Luky said.

Indonesia will optimise rupiah bonds in medium- and long- tenors, and it will increase the target for retail bond sales to around 100 trillion rupiah (US$6.97 billion) next year, from 97 trillion rupiah this year.