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Indonesia's Prabowo Plans Temporary Deficit Breach Amid Crisis

3/16/2026

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Summary

Story summary

President Prabowo Subianto of Indonesia said he would temporarily exceed the 3% of GDP deficit cap during emergencies, such as oil-price spikes from the US-Israel war in Iran.
He emphasized fiscal discipline and recalled breaches during the Covid-19 pandemic.
Indonesia’s stock market fell as investors weighed the deficit-cap debate and growth risk.
Prabowo aims to eliminate fuel subsidies within three years and shift to renewable energy.

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Story summary

President Prabowo Subianto of Indonesia said he would temporarily exceed the 3% of GDP deficit cap during emergencies, such as oil-price spikes from the US-Israel war in Iran.
He emphasized fiscal discipline and recalled breaches during the Covid-19 pandemic.
Indonesia’s stock market fell as investors weighed the deficit-cap debate and growth risk.
Prabowo aims to eliminate fuel subsidies within three years and shift to renewable energy.