Indonesia's State Budget Deficit at Rp560.3 Trillion in November 2025

Economics & Macro

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Nabilah Muhamad 18/12/2025 17:08 WIB

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The Ministry of Finance (MoF) reported that as of November 2025, Indonesia's State Budget recorded a deficit of Rp560.3 trillion, or equivalent to 2.35% of GDP.

Realization of Indonesia's State Budget for the January-November Period (2024-2025)

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Indonesia's State Budget Deficit at Rp560.3 Trillion in November 2025

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Realization of Indonesia's State Budget for the January-November Period (2024-2025)

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The Ministry of Finance (Kemenkeu) reported that from January to November 2025, Indonesia's State Budget (APBN) experienced a deficit of Rp560.3 trillion, equivalent to 2.35% of the gross domestic product (GDP).

The State Budget deficit for this period surged by 39.37% compared to the deficit position in November last year (year-on-year/yoy), which was Rp402 trillion or 1.83% of GDP.

"This [deficit] is still within manageable limits and in line with our State Budget design," said Minister of Finance Purbaya Yudhi Sadewa during the APBN KiTa press conference on Thursday (18/12/2025).

This widening deficit occurred due to state expenditure realization being greater than its revenue.

By the end of November 2025, state revenue decreased by 5.65% (yoy) to Rp2,351.5 trillion.

Meanwhile, state expenditure realization was higher, reaching Rp2,911.8 trillion, a slight increase of 0.59% from November 2024 (yoy).

Consequently, the primary balance, or total revenue minus state expenditure without accounting for interest payments on debt, recorded a surplus of Rp82.2 trillion.

"This demonstrates fiscal management that remains prudent amidst various global challenges," Purbaya stated.

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."