JAKARTA – A 30% slump in Indonesia’s tax revenue in the January-February period is fueling concerns over the country’s fiscal health, with analysts warning of the risk of a widening deficit as President Prabowo Subianto pushes ambitious welfare programs.
The Ministry of Finance on Thursday reported 240 trillion rupiah ($14.6 billion) in tax revenue, including customs and excise, for the first two months of 2025 – which made up 75% of total state revenue. That was down from 320.5 trillion rupiah in the same period last year.
