Indonesian FinMin Indrawati: Indonesia plans more tax breaks to lift GDP growth

The Indonesian Finance Minister Sri Mulyani Indrawati said late-Wednesday that the government plans to cut several different taxes to boost investment and accelerate economic growth amid dwindling growth outlook.

Southeast Asia's largest economy in the first quarter expanded 5.07% from a year earlier, missing market expectations.

Indrawati said, “Previously announced plans for a "super deductible tax" incentive, that allows a company to deduct its taxes at double the amount it invests in skills training and triple the size of its investment in research and development, will soon be issued.”

Bank Indonesia is scheduled to announce its interest rate decision later today at 0700 GMT.

USD/IDR trades weaker near 14,217.50, at fresh weekly lows.