JAKARTA (Dow Jones)--Indonesia's parliament Tuesday approved the 2011 state budget, allowing for a wider deficit than earlier proposed to help support a higher economic growth target.
The parliament approved a budget deficit of 1.8% of 2011 gross domestic product, or IDR124.7 trillion, wider than the initial proposal of 1.7% of GDP and compares with an estimated deficit this year of 1.5% of GDP.
Parliament also set an economic growth target of 6.4% next year, higher than the government-proposed 6.3% target. It expects the dollar to average IDR9,250 next year, against an initial projection of IDR9,300.
It set next year's fuel subsidy at IDR95.9 trillion, compared with IDR88.8 trillion this year, while cutting electricity subsidies to IDR40.7 trillion, from IDR55.1 trillion this year.
-By Joko Hariyanto, contributing to Dow Jones Newswires; 62 21 39831277; andreasismar.sandiwan@dowjones.com
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(END) Dow Jones Newswires
October 26, 2010 03:42 ET
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