The nephew of Indonesia's president-elect, Prabowo Prabowo, has been named deputy finance minister, promising a smooth transfer of finances and pledging not to raise the debt ratio or budget deficit.
Indonesian President Joko Widodo appointed Thomas Djiwandono as deputy finance minister on Thursday, Bloomberg reported. In an interview that day, Thomas made it clear that he would ensure that Prabowo's fiscal plans were in line with Joko's economic policies. "I am a bridge between the current president and the president-elect on fiscal policy."
Thomas also said the Prabowo camp is adamant that policy finance must follow legal limits.
Mr. Prabowo, the current defense minister, was elected president in March and will formally take over the leadership from Mr. Joko in October.
Investors have been wary of conflicting signals about Prabowo's fiscal stance. He has shown that Indonesia can afford to be bolder in its spending; His advisers say the new government may allow the debt ratio to rise to 50% of gross domestic product.
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