Government Spending Reaches Rp1,170 Trillion in July 2024, a 14.7% Increase

Economics & Macro

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Erlina Fury Santika 15/08/2024 13:09 WIB

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Central government spending increased by 14.7% (yoy) to Rp1,170 trillion by July 2024. Here's the trend.

Realization and Growth of Central Government Spending per July (2020-2024)

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Realization and Growth of Central Government Spending per July (2020-2024)

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The Ministry of Finance (Kemenkeu) reported that central government spending (BPP) reached Rp1,170.8 trillion in July 2024.

This figure is up 14.7% year-on-year (yoy) from Rp1,020.4 trillion in July 2023. July 2024's BPP also fulfills 47.5% of the budget ceiling in the state budget (APBN).

July 2024's BPP consists of ministry/agency spending (K/L) of Rp588.7 trillion. This spending is influenced by the 2024 General Election, the disbursement of various programs such as social assistance (bansos), defense and security infrastructure, and infrastructure development.

There is also a non-K/L spending component of Rp582.1 trillion. Sri Mulyani, Minister of Finance (Menkeu), stated that this spending is influenced by the realization of energy subsidies or compensations, the largest received by Pertamina and PLN, and the payment of state apparatus pension benefits.

"Of the Rp1,170 trillion [spending], Rp872 trillion or 74.5% is directly enjoyed by the public," said Sri Mulyani in the *APBN Kita* press conference on the Kemenkeu YouTube channel, Monday (13/8/2024).

Based on the trend, July 2024's spending growth is the second highest after July 2021, which reached 20.1% (yoy) at Rp952.8 trillion. Sri Mulyani stated that this increase was driven by spending due to the Covid-19 pandemic, which previously plummeted in 2020.

Meanwhile, the smallest spending growth occurred in July 2023, which was minus 1%, amounting to Rp1,020.4 trillion.

(See also: State Revenue Down, APBN Deficit Rp93.4 Trillion in July 2024)

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."