Indonesia's 2020 State Budget Deficit Reached 3% by August

Economics & Macro

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Dimas Jarot Bayu 23/09/2020 13:56 WIB

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The 2020 APBN deficit reached Rp 500.5 trillion by August, equivalent to 3.05% of the Gross Domestic Product (GDP).

Realization of State Budget Revenue, Expenditure, and Deficit 2019 & 2020

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Indonesia's 2020 State Budget Deficit Reached 3% by August

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Realization of State Budget Revenue, Expenditure, and Deficit 2019 & 2020

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The Ministry of Finance recorded a budget deficit realization of Rp 500.5 trillion until August 2020, equivalent to 3.05% of the Gross Domestic Product (GDP). This significant increase in the budget deficit is in stark contrast to last year's realization of only Rp 197.9 trillion or 1.25% of GDP.

The large deficit occurred due to a surge in government spending to Rp 1,534.7 trillion, a year-on-year increase of 10.6%. Meanwhile, state revenue was recorded at Rp 1,034.1 trillion, a decrease of 13.1% compared to the same period last year.

Editor : Aria W. Yudhistira

"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."