TITLE

Voters Reject Austerity Measures

PUB. DATE
June 2004
SOURCE
Asia Monitor: South East Asia Monitor Volume 2;Jun2004, Vol. 15 Issue 6, p2
SOURCE TYPE
Country Report
DOC. TYPE
Country Report
ABSTRACT
The Indonesian finance ministry is expected to present its draft budget for 2005 to parliament in May 2004 amid a growing debate over belt-tightening fiscal measures. Indonesia has won much foreign praise for its fiscal consolidation of recent years. On May 12, 2004 ratings agency Standard & Poor's Corp. revised its outlook on Indonesian sovereign debt to positive from stable due to the economy's continued progress. The government aims to reduce its deficit to 1.2% of GDP this year from an estimated 1.9% in 2003.
ACCESSION #
13236032

 

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