Moody's Warns of Rising Credit Risks for Indonesia Despite Fiscal Targets

1. 1Moody's (MCO) said it maintains concerns about Indonesia's policy direction and fiscal sustainability.
2. 2Moody's Vice President Martin Petch noted that the risk balance has turned more negative since the February outlook downgrade, adding that subsidy costs stemming from the Iran war will pressure government finances this year and next.
3. 3Ambiguous authority of state agency Danantara, a narrow tax base, and cuts to the free-meal program budget are compounding credit concerns even as the government targets a 2.85% fiscal deficit.

Source Bloomberg +3 · View original ↗

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