Indonesia's State Budget Shows a Deficit of Rp35 Trillion as of December 12, 2023

Economics & Macro

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Cindy Mutia Annur 18/12/2023 13:12 WIB

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The Indonesian Ministry of Finance reported that Indonesia's State Budget (APBN) recorded a deficit of Rp35 trillion, or 0.17% of the Gross Domestic Product (GDP), as of December 12, 2023.

Indonesia's State Budget: Target vs. Realization (December 12, 2023)

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Indonesia's State Budget Shows a Deficit of Rp35 Trillion as of December 12, 2023

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Indonesia's State Budget: Target vs. Realization (December 12, 2023)

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The Ministry of Finance reports that Indonesia's State Budget (APBN) recorded a deficit of Rp35 trillion, or 0.17% of the Gross Domestic Product (GDP), as of December 12, 2023.

Finance Minister Sri Mulyani stated that this deficit is significantly lower than the initial target of Rp598.2 trillion, or 2.84% of GDP.

Meanwhile, the APBN primary balance as of December 12 remains a surplus of Rp378.6 trillion. The primary balance is the total state revenue minus state expenditure, excluding interest payments on debt.

According to Sri Mulyani, the APBN deficit as of December 12, 2023, is due to state revenue being lower than state expenditure.

State revenue reached Rp2,553.2 trillion. This realization has exceeded the APBN target of Rp2,463 trillion.

Sri Mulyani is optimistic that state revenue will reach its target by the end of 2023.

"Compared to the initial APBN target, revenue realization has surpassed the target by 103.6%," said Sri Mulyani in a press release on Friday, December 15, 2023.

On the other hand, the realization of state expenditure until December 12, 2023, has reached Rp2,588.2 trillion. This realization has reached 84.55% of the APBN target of Rp3,061.2 trillion.

Editor : Erlina Fury Santika

"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."