Government Budget Deficit Ratio and Nominal Value During the SBY and Jokowi Eras, Collapsed During the Pandemic

Finance Minister Sri Mulyani stated that the budget deficit in the national economy is due to financial flexibility. As reported by *Media Indonesia*, Sri Mulyani mentioned that the state budget (APBN) is a flexible financial instrument designed to meet the country's needs.

Databoks compiled the ratio of the APBN deficit to the Gross Domestic Product (GDP) along with its nominal value over the last two decades. This 20-year graph covers the administrations of President Susilo Bambang Yudhoyono (SBY) from 2004-2014 and President Joko Widodo (Jokowi) from 2014-2024.

This data is taken from the Central Government Financial Report (LKPP), the APBN, and various credible sources, such as government releases and news from mass media.

(Read also: [State Revenue Down, APBN Deficit Rp93.4 Trillion in July 2024](https://databoks.katadata.co.id/datapublish/2024/08/14/pendapatan-negara-turun-apbn-defisit-rp934-triliun-pada-juli-2024))

Based on the trend, the deficit ratio ranges from minus 0.08% to minus 6.14%.

The lowest deficit occurred in 2008, with a ratio of minus 0.08% of GDP. According to the LKPP report, state revenue realization during SBY's era was recorded at Rp981.61 trillion, or 109.68% of the Revised State Budget (APBN-P) for fiscal year (TA) 2008. Meanwhile, state expenditure realization was Rp985.75 trillion, or 99.62% of the APBN-P TA 2008.

Therefore, the realized deficit for TA 2008 was Rp4.12 trillion, while the APBN-P TA 2008 budgeted a deficit of Rp94.50 trillion.

Meanwhile, the deficit ratio to GDP fell to its lowest point in 2020, at minus 6.14%. The nominal value was Rp947.69 trillion, or 91.19% of the budgeted Rp1,039.21 trillion.

The LKPP report also reveals that state revenue and grants in 2020 reached Rp1,647.78 trillion, or 96.93% of the APBN. In addition, the realization of state expenditure was Rp2,595.48 trillion, or 94.75% of the APBN.

This very large deficit occurred during the COVID-19 pandemic. Even a year later, the deficit ratio remained wide, at minus 4.65%. At that time, the nominal budget deficit was Rp775.06 trillion, or 77.02% of the budgeted Rp1,006.38 trillion.

The realization of state revenue and grants in 2021 amounted to Rp2,011.34 trillion, or 115.35% of the APBN. Meanwhile, Indonesia's expenditure realization was Rp2,786.41 trillion, or 101.32% of the APBN.

The latest data shows that the deficit agreed upon with the DPR (House of Representatives) is minus Rp522.82 trillion in the 2024 APBN. The ratio is minus 2.29% of GDP.

(Read more: [Difference in Budget Deficit Values During the SBY and Jokowi Eras, Who Had the Largest?](https://databoks.katadata.co.id/datapublish/2024/06/07/beda-nilai-defisit-anggaran-era-sby-dan-jokowi-siapa-terbesar#goog_rewarded))