President Prabowo Subianto

Indonesia implemented a wide-ranging fiscal restructuring programme in 2025 under President Prabowo that focused on expenditure rationalisation, tighter enforcement and recovery of revenue from illegal economic activity, resulting in an estimated fiscal impact of about $30 billion while keeping the fiscal deficit within the statutory 3 percent ceiling and maintaining stable debt levels.

— last modified 08 December 2022 The European Commission proposed on 8 December a series of measures to modernise and make the EU’s Value-Added Tax (VAT) system work better for…