September 23, 2019 / 7:26 AM / 23 days ago

Indonesian parliament body approves govt's $180 bln budget for 2020

JAKARTA, Sept 23 (Reuters) - The Indonesian parliament’s budgetary committee on Thursday approved President Joko Widodo’s plans to spend 2,540.4 trillion rupiah ($180 billion) in 2020, in a budget with an estimated fiscal deficit of 1.8% of GDP, its chairman Kahar Muzakir said.

The government will issue 389.3 trillion rupiah of bonds, not including buybacks and short term notes for cash management, to fund the budget deficit next year.

The committee had already approved 5.3% as the 2020 economic growth target earlier this month.

The approval will be brought to parliament’s plenary session on Tuesday. The committee’s endorsement is usually further approved. ($1 = 14,090 rupiah) (Reporting by Maikel Jefriando and Gayatri Suroyo; Editing by Toby Chopra)

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