Wahyu Dwi Anggoro
From the fiscal perspective, the government's strong commitment to fiscal consolidation has resulted in a less-than 3% deficit target a year earlier than planned. R&I anticipates that in 2023, revenues will remain robust, while expenditures will be well-controlled in line with the planned objectives. Given that, the government has lowered its budget deficit forecast for 2023 to 2.3% from the initial target of 2.8%, leading to lower government debt-to-GDP ratio.
In July 2022, R&I affirmed Indonesia's Sovereign Credit Rating at BBB+ with a stable outlook, indicating a rating two levels above the lowest of investment grade. (WHY)
