ID :
42085
Thu, 01/22/2009 - 11:54
Auther :
Shortlink :
https://www.oananews.org//node/42085
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GOVT HOPES DONORS TO APPROVE ITS PROPOSED STANDBY LOAN SOON
Jakarta, Jan 21 (ANTARA) - The government is optimistic donor countries will approve its proposal for US$5 billion in standby loans in the first quarter of 2009, a finance ministry official said.
"We are still optimistic," head of the ministry's fiscal policy board Anggito Abimanyu said on Wednesday.
Anggito said the ministry was still discussing the proposal with donor countries and institutions.
"In principle, some of them have agreed to it. But we are still waiting for the results of meetings to be held by each of the donor countries or multilateral institutions. In principle, there has been progress," he said.
He said donor institutions such as the World Bank would hold a board meeting only in February to decide on the proposal.
The government expects to secure US$5 billion in standby loans to plug a deficit in the 2009 state budget and mitigate the impact of the current global financial crisis.
The government has projected the 2009 budget deficit to increase to Rp132 trillion or 2.5 percent of the gross domestic product (GDP) from Rp80 trillion as originally planned.
The increase in the state budget deficit will be caused by a decline in state receipts particularly taxes as the result of an economic stimulus package to mitigate the impact of the global financial crisis.
"We are still optimistic," head of the ministry's fiscal policy board Anggito Abimanyu said on Wednesday.
Anggito said the ministry was still discussing the proposal with donor countries and institutions.
"In principle, some of them have agreed to it. But we are still waiting for the results of meetings to be held by each of the donor countries or multilateral institutions. In principle, there has been progress," he said.
He said donor institutions such as the World Bank would hold a board meeting only in February to decide on the proposal.
The government expects to secure US$5 billion in standby loans to plug a deficit in the 2009 state budget and mitigate the impact of the current global financial crisis.
The government has projected the 2009 budget deficit to increase to Rp132 trillion or 2.5 percent of the gross domestic product (GDP) from Rp80 trillion as originally planned.
The increase in the state budget deficit will be caused by a decline in state receipts particularly taxes as the result of an economic stimulus package to mitigate the impact of the global financial crisis.
