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Narrowing Budget Deficits in Indonesia and the Philippines
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Indonesia and the Philippines anticipate narrower budget deficits in 2024, with Indonesia's budget showing a deficit of $2.3 billion and the Philippines' current account deficit expected to decrease to $9.5 billion. Both countries attribute these changes to increased trade activity and steady inflows of foreign funds.
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How might the narrowing budget deficits impact the economic growth and stability of Indonesia and the Philippines?
In what ways do increased trade activity and steady inflows of foreign funds contribute to the narrowing of budget deficits?
What measures can be taken to further reduce the budget deficits in these countries?
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