Southeast Asia’s Job After Covid-19: Grow Their Way Out

Enormous budget deficits will require new tactics

By: Pratiwi Kartika

Southeast Asia has entered a new policy arena, with countries forced inevitably to adopt enormous budget deficits this year and most likely for the next few. Indonesia, the Philippines, Singapore, and Malaysia have ratios of budget deficits to GDP at 6.3 percent, 8.4 percent, 15.4 percent, and 5.9 percent respectively, their highest i…