In the first two months of 2025, the Indonesian state budget recorded a deficit of Rp31.2 trillion.

The Ministry of Finance (Kemenkeu) reported that the state budget (APBN) in February 2025 experienced a deficit of Rp31.2 trillion, equivalent to 0.13% of the Gross Domestic Product (GDP).

“The 2025 APBN deficit is designed to be Rp616.2 trillion. Therefore, the 0.13% deficit is still within the APBN target, which is 2.53% of GDP or Rp616.2 trillion,” said Finance Minister Sri Mulyani in a press conference on the APBN KiTa, Thursday (March 13, 2025).

The APBN deficit in the first two months of this year is inversely proportional to February 2023 (year-on-year/yoy), which recorded a surplus of Rp26 trillion, or 0.11% of GDP.

The widening of the APBN deficit in February 2025 was influenced by state expenditure being greater than state revenue.

Until the end of February 2025, the realization of state revenue was recorded at Rp316.8 trillion, or 10.5% of this year's APBN target.

"This consists of tax revenue of Rp187.8 trillion, or 8.6% of the target. Meanwhile, customs and excise duties amounted to Rp52.6 trillion, which is 17.5% of the target," said Sri Mulyani.

Then, non-tax state revenue (PNBP) in February 2025 amounted to Rp76.4 trillion, realizing 14.9% of the APBN target.

Meanwhile, the realization of state expenditure was higher, reaching Rp348.1 trillion or 9.6% of the APBN.

This expenditure consists of central government expenditure, namely K/L and non-K/L expenditure amounting to Rp211.5 trillion or 7.8% of the target, and transfers to regions of Rp136.6 trillion or 14.9% of the APBN.