Details of the 14.1% Increase in State Budget Spending in October 2024

The Ministry of Finance (Kemenkeu) reported that state spending reached Rp2,556.7 trillion by October 2024.

This figure represents 76.9% of the state revenue and expenditure budget (APBN). October 2024 spending also increased by 14.1% year-on-year (yoy) compared to October 2023, which was Rp2,240.8 trillion.

Based on its components, state spending is divided into two parts: central government spending and transfers to regions.

Central government spending reached Rp1,834.5 trillion by October 2024, up 16.7% (yoy) from October 2023, which was Rp1,572.2 trillion.

Central government spending consists of ministry/agency (K/L) spending of Rp933.5 trillion (+21.4% yoy) and non-K/L spending of Rp901 trillion (+12.1% yoy) as of October 2024.

Meanwhile, transfers to regions were recorded at Rp722.2 trillion by October 2024. This is an 8% (yoy) increase from October 2023, which was Rp668.5 trillion.

"Several expenditures have increased, including compensation, subsidies, interest payments, and pension benefits," said Sri Mulyani, Minister of Finance, explaining the increase in state spending in the *APBN KiTa* press conference on Friday (8/11/2024).

The large amount of state spending, which is not balanced by increased state revenue, has resulted in an APBN deficit. The APBN deficit was recorded at Rp309.2 trillion from the beginning of the year to October 2024.

This deficit is wider than in October 2023, which was only Rp0.2 trillion. However, it is still smaller than the 2024 APBN ceiling.

State revenue realization until the end of October 2024 increased slightly by 0.3% (yoy) to Rp2,247.5 trillion, equivalent to 80.2% of this year's APBN target, which totals Rp2,802.3 trillion.

Kemenkeu also noted that the primary balance until October 2024 still showed a surplus of Rp97.1 trillion.

(See also: [APBN Deficit Rp309 Trillion until October 2024](https://databoks.katadata.co.id/ekonomi-makro/statistik/6731673619e7c/apbn-defisit-rp309-triliun-sampai-oktober-2024))