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Indonesia Faces Budget Deficit Amid Rising Spending and Downgrade

2/24/2026

44 9 Full Breakdown

Summary

Story summary

Indonesia posted a January budget deficit of 54.6 trillion rupiah, 0.21% of GDP.
Spending rose 25.7% year-on-year to 227.3 trillion rupiah, driven by President Prabowo Subianto's free meals program.
Revenue grew 20.5% year-on-year to 172.7 trillion rupiah.
Finance Minister Purbaya Yudhi Sadewa aims to sustain momentum by targeting 809 trillion rupiah in the first quarter.
Moody's downgraded Indonesia's bond-rating outlook to negative.

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Story summary

Indonesia posted a January budget deficit of 54.6 trillion rupiah, 0.21% of GDP.
Spending rose 25.7% year-on-year to 227.3 trillion rupiah, driven by President Prabowo Subianto's free meals program.
Revenue grew 20.5% year-on-year to 172.7 trillion rupiah.
Finance Minister Purbaya Yudhi Sadewa aims to sustain momentum by targeting 809 trillion rupiah in the first quarter.
Moody's downgraded Indonesia's bond-rating outlook to negative.