Indonesia to let debt-to-GDP to reach 50%

JAKARTA — Indonesian President-elect Prabowo Subianto will allow the nation's debt-to-GDP (gross domestic product) ratio to rise to 50 percent provided his administration can boost tax revenues, the Financial Times reported citing one of his closest advisers.

Prabowo's brother and adviser Hashim Djojohadikusumo told the Financial Times in a London interview that Indonesia could still retain its investment-grade rating even if the debt-to-GDP ratio rises to 50 percent.