Fiscal Balance in Indonesia
Indonesia maintained a cautious fiscal approach over the last decade, keeping the deficit generally within 2 to 3% of GDP. Despite challenges such as fluctuating commodity prices and currency volatility, prudent fiscal management prevailed. The COVID-19 pandemic necessitated increased spending, but by 2022, efforts were focused on returning to pre-pandemic fiscal discipline, balancing economic recovery needs with sustainable public finance management.
In the year 2024, the fiscal balance in Indonesia was -2.75%, compared to -2.14% in 2014 and -1.61% in 2023. It averaged -2.83% over the last decade. For more fiscal balance information, visit our dedicated page.
Indonesia Fiscal Balance Chart
Note: This chart displays Fiscal Balance (% of GDP) for Indonesia from 2024 to 2020.
Source: Macrobond.
Indonesia Fiscal Balance Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -6.1 | -4.6 | -2.4 | -1.6 | -2.8 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Indonesian fiscal balance projections for the next ten years from a panel of 26 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable fiscal balance forecast available for Indonesian fiscal balance.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Indonesian fiscal balance projections.
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