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Indonesia's State Budget Records Surplus Again in May 2023 Despite Global Economic Risks

Cindy Mutia Annur 27/06/2023 12:42 WIB

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The Ministry of Finance (MoF) reported that the state budget (APBN) recorded a surplus again in May 2023, amounting to Rp204.3 trillion.

Indonesia's State Budget Realization (May 2022 - May 2023)

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Indonesia's State Budget Records Surplus Again in May 2023 Despite Global Economic Risks

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Indonesia's State Budget Realization (May 2022 - May 2023)

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The Ministry of Finance (Kemenkeu) reported that the State Revenue and Expenditure Budget (APBN) recorded a surplus again in May 2023, amounting to Rp204.3 trillion. This figure is equivalent to 0.97% of the Gross Domestic Product (GDP).

The realization of Indonesia's APBN surplus in May 2023 increased by 54.8% year-on-year (yoy). In May 2022, the realized APBN surplus was only Rp132 trillion.

This APBN surplus was accompanied by a maintained primary balance at Rp390.5 trillion. The primary balance is the total state revenue minus state expenditure excluding interest payments on debt.

Finance Minister Sri Mulyani Indrawati stated that the implementation of Indonesia's APBN up to the fifth month of this year still shows positive performance.

“Although the global environment remains very challenging, even risky,” said Sri Mulyani in an online press conference on Monday (June 26, 2023).

According to Sri Mulyani, volatility remains high, geopolitics are still turbulent, and commodity prices have been corrected. However, she stated that the government will continue to anticipate future global weakening.

The increase in Indonesia's APBN surplus in May 2023 is a result of state revenue that continues to grow rapidly. Sri Mulyani said that state revenue had reached Rp1,209.3 trillion by the end of May 2023, equivalent to 49.1% of this year's target of Rp2,463 trillion.

“(State revenue) shows 13% growth compared to May 2022's revenue,” said Sri Mulyani.

Meanwhile, state expenditure grew by 7.1% year-on-year (yoy) in May 2023. State expenditure realization reached Rp1,005 trillion, out of a target of Rp3,061.2 trillion.

"This means that 32.8% of the total state expenditure has been disbursed," she said.

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."

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Indonesia's State Budget Records Surplus Again in May 2023 Despite Global Economic Risks

Indonesia's State Budget Records Surplus Again in May 2023 Despite Global Economic Risks

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Indonesia's State Budget Records Surplus Again in May 2023 Despite Global Economic Risks

Indonesia's State Budget Records Surplus Again in May 2023 Despite Global Economic Risks

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