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Government Spending Increases, State Budget Deficit Reaches Rp401 Trillion by November 2024

Nabilah Muhamad 12/12/2024 13:19 WIB

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Indonesia's 2024 State Budget (APBN) shows a deficit of Rp401.8 trillion as of November, wider than last year's deficit. This is due to a significant increase in government spending, while revenue onl

Indonesia's State Budget Realization as of November 30 (2023-2024)

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Government Spending Increases, State Budget Deficit Reaches Rp401 Trillion by November 2024

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Indonesia's State Budget Realization as of November 30 (2023-2024)

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According to the Ministry of Finance's report, from the beginning of the year until November 2024, the State Revenue and Expenditure Budget (APBN) deficit reached Rp401.8 trillion, equivalent to 1.81% of the Gross Domestic Product (GDP).

This is higher than the November 2023 deficit, which was only Rp49.6 trillion or 0.24% of GDP.

The widening APBN deficit this year is influenced by a significant increase in government spending, while revenue only increased slightly.

State revenue realization until November 2024 reached Rp2,492.7 trillion, growing by 1.3% year-on-year (yoy).

On the other hand, state expenditure realization until November 2024 increased by 15.3% (yoy) to Rp2,894.5 trillion.

Although the APBN deficit has widened, Finance Minister Sri Mulyani stated that the figure is still within safe limits, as it is lower than the 2024 APBN deficit target of Rp522.8 trillion.

"So, the deficit of Rp401.8 trillion is still below Rp522.8 trillion. That's why we mention it as 76.8% of the deficit in the 2024 APBN Law," said Sri Mulyani during the APBN KiTa December 2024 press conference in Jakarta on Wednesday (11/12/2024).

Editor : Adi Ahdiat

"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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Government Spending Increases, State Budget Deficit Reaches Rp401 Trillion by November 2024

Government Spending Increases, State Budget Deficit Reaches Rp401 Trillion by November 2024

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Government Spending Increases, State Budget Deficit Reaches Rp401 Trillion by November 2024

Government Spending Increases, State Budget Deficit Reaches Rp401 Trillion by November 2024

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