Rupiah Slumps on Scaled-Back Tax Hike Even as Finance Chief Downplays Deficit
Source: Live Mint (Bloomberg) — Indonesia’s rupiah slumped nearly 1% after President Prabowo Subianto’s surprise decision to scale back a tax hike, prompting the finance minister to talk down concerns over the country’s fiscal health. After second-half revenues recovered, the 2024 budget deficit will likely come in much lower than the official estimate, Finance Minister…
