Indonesia Announces Massive $18.8 Billion Spending Cut in 2024 Budget
2025-01-24
Channel NewsAsia Singapore
In a bid to boost economic stability, Indonesia's President Prabowo Subianto has ordered a significant reduction in government spending, with plans to cut 306.7 trillion rupiah (US$18.8 billion) from the budget this year. This move is expected to have a major impact on the country's financial landscape, with potential effects on economic growth, fiscal policy, and public sector investment. As Indonesia navigates its economic challenges, the government's austerity measures are likely to be closely watched by financial analysts and experts in the field of economic development. The spending cuts are part of a broader effort to foster fiscal discipline and promote sustainable economic growth.
