Prabowo adviser denies plans to raise Indonesia's debt to 50% of GDP

JAKARTA - Indonesia's President-elect Prabowo Subianto has no plans to boost the country's public debt to 50% of gross domestic product , a senior aide said on Saturday, denying a report that had hit the nation's currency and bond markets.

"We are not talking about debt-to-GDP target at all. This is not a formal policy plan," said Thomas, the incoming president's nephew. Ratings agencies and investors have been closely monitoring Prabowo's fiscal policy, fearing costly programmes he pledged before his landslide victory in February's election would derail Indonesia's record of fiscal prudence.

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