State Spending Reaches Rp2,300 Trillion by October 2022, Dominated by Fuel and Electricity Subsidies

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Cindy Mutia Annur 25/11/2022 14:10 WIB

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The Ministry of Finance (Kemenkeu) recorded that state expenditure reached Rp2,351.1 trillion until October 2022. According to Sri Mulyani, this realization was dominated by fuel and electricity subs

Indonesian Government Spending (October 2021 - October 2022)

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State Spending Reaches Rp2,300 Trillion by October 2022, Dominated by Fuel and Electricity Subsidies

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Indonesian Government Spending (October 2021 - October 2022)

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The Ministry of Finance (Kemenkeu) recorded that state spending reached Rp2,351.1 trillion by October 2022, or 75.7% of the state budget ceiling in Presidential Regulation 98 of 2022, which amounted to Rp3,106.4 trillion.

This achievement increased by 14.2% year-on-year (yoy). In October 2021, state spending reached Rp2,058.9 trillion.

Finance Minister Sri Mulyani stated that the largest spending was non-ministry/agency (K/L) spending, reaching Rp917.7 trillion, or a 57.4% yoy increase. This budget was used for fuel and electricity subsidies and compensations, pension payments, THR (religious holiday allowance), and ASN (civil servant) health insurance.

"This non-K/L spending has reached 67.7% of our state budget. Fuel and electricity subsidies and compensations dominate the absorption of our state budget," said Sri Mulyani in a press conference on the Indonesian State Budget (APBN KITA) on Thursday (24/11).

Meanwhile, K/L spending realization reached Rp754.1 trillion, contracting by 9.5% (yoy). This spending was used for employee expenses, K/L operational activities, the disbursement of various social assistance, and capital expenditure such as equipment/machinery, roads, networks, irrigation, employee expenses including THR and the 13th-month salary.

Furthermore, the realization of transfers to regions (TKD) reached Rp679.2 trillion, growing by 5.7% (yoy). According to Sri Mulyani, most types of TKD experienced an increase in disbursement performance due to improved compliance from Regional Governments (Pemda).

On the other hand, state revenue in October 2022 was recorded at Rp2,181.6 trillion, up 44.5% (yoy) compared to October 2021, which amounted to Rp1,510.2 trillion.

The larger realization of state spending compared to state revenue resulted in a state budget deficit of Rp169.5 trillion as of October 2022. This figure is equivalent to 0.91% of the Gross Domestic Product (GDP).

This realization also ended the trend of the state budget's performance, which had experienced consecutive surpluses from January to September 2022. As a result, this is the first time the Indonesian state budget has experienced a deficit this year.

Editor : Annissa Mutia

"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."