Emerging Asia Economics

Emerging Asia Economics

Emerging Asia Chart Book

19 May, 2017

Indonesia S&P upgrade long overdue

The decision on Friday by the rating agency, S&P, to upgrade Indonesia to investment grade rating was long overdue. At under 30% of GDP, Indonesia has one of the lowest levels of government debt in the region. Last year the government demonstrated its commitment to fiscal prudence when it cut government spending sharply in order to keep the budget deficit below 3% of GDP. The other two main rating agencies, Fitch and Moody’s, upgraded Indonesia to investment grade in 2011 and 2012 respectively

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