Indonesia`s budget deficit in the year ended on September 30 reached Rp33.23 trillion, accounting for 25.40 percent of the government-set target of Rp129.8 trillion for the year.
"The budget deficit until September 30, 2009 was Rp33.23 trillion," Director General of Treasury Affairs at the Finance Ministry Herry Purnomo said on Tuesday.
To offset the deficit, the government had issued rupiah-denominated state bonds worth a total of Rp85.55 trillion or 86.19 percent of the targeted Rp99.26 trillion for this year, he said in his opening address to an investor gathering at the ministry.
Commenting on the government`s plan to auction state sharia bonds (SBSN), he said Finance Minister Sri Mulyani Indrawati had set the number of bidders to take part in the auction scheduled for October 13.
"The finance minister has appointed bidders consisting of financial institutions, banks, and securities companies. They can all become bidders, provided they have secured approval," he said.
The plan to auction state sharia bonds consisting of series IFR0003 and IFR0004 had obtained a fatwa (edict) from the National Sharia Council.
The bonds to be issued under a sales and lease back agreement will be payable in 6 years and 11 years respectively.
Herry said the state budget needed support to finance its deficit and therefore, the government would keep encouraging the market for state sharia bonds.
"I think the auctioning method in the issuance of sukuk (sharia bonds) will be more efficient and can encourage transparency and development in the secondary market," he said.(*)
http://www.antara.co.id/en/news/1254834802/ris-budget-deficit-reaches-rp33-trillion
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