Election Spending Inflates State Budget by 30% in Early 2024

Economics & Macro

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Cindy Mutia Annur 23/02/2024 19:15 WIB

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According to the Ministry of Finance, Indonesia's state budget (APBN) spending swelled by 30% year-on-year (yoy) in January 2024, partly due to election preparations.

Indonesia's State Expenditure Realization (January 2023-January 2024)

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Election Spending Inflates State Budget by 30% in Early 2024

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Indonesia's State Expenditure Realization (January 2023-January 2024)

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The Ministry of Finance (Kemenkeu) reported that the realization of state expenditure in the State Revenue and Expenditure Budget (APBN) reached Rp184.2 trillion in January 2024.

This figure is equivalent to 5.5% of this year's APBN expenditure ceiling, which totals Rp3,325.1 trillion.

State expenditure realization in January 2024 swelled by 30.27% compared to January of the previous year (year-on-year/yoy).

A detailed breakdown shows a significant surge in central government spending, particularly ministry/agency (K/L) spending, which increased by 56.73% (yoy) to Rp44.98 trillion.

"(The increase in spending) is mainly contributed by spending related to the election," said Finance Minister Sri Mulyani in an online APBN KiTa press conference on the Kemenkeu YouTube account, Thursday (22/2/2024).

Central government spending outside of ministries/agencies (non-K/L) reached Rp51.6 trillion, influenced by pension benefit payments, and the realization of transfers to regions (TKD) amounted to Rp87.8 trillion.

On the other hand, state revenue realization as of January 2024 reached Rp215.5 trillion, equivalent to 7.7% of this year's ceiling, which totals Rp2,802.3 trillion.

With higher revenue realization compared to state expenditure, the APBN recorded a surplus of Rp31.3 trillion at the beginning of this year.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."