Government Spending Growth Remains Slim at 0.8% in 2023

Economics & Macro

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Cindy Mutia Annur 03/01/2024 19:30 WIB

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Finance Minister Sri Mulyani stated that the 2023 state budget realization reached Rp3,121.9 trillion. This realization only grew slightly by 0.8% from the previous year.

Indonesia's State Expenditure Realization (2022-2023*)

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Government Spending Growth Remains Slim at 0.8% in 2023

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Indonesia's State Expenditure Realization (2022-2023*)

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Finance Minister Sri Mulyani stated that Indonesia's 2023 state expenditure reached Rp3,121.9 trillion. This realization shows only a slight 0.8% growth compared to 2022's Rp3,096.3 trillion.

However, this figure is still provisional, as it has not yet undergone an audit.

According to Sri Mulyani, the 2023 state expenditure realization reached 102% of the 2023 State Budget (APBN) or 100.2% of Presidential Regulation Number 75 of 2023.

Sri Mulyani detailed that the target in the 2023 State Budget (APBN) was Rp3,061.2 trillion, while the target in Presidential Regulation Number 75 of 2023 was increased to Rp3,117.2 trillion.

"So, (the 2023 expenditure realization) is higher than the APBN and Presidential Regulation targets," said Sri Mulyani, as reported by Antara on Tuesday (2/1/2024).

Specifically, the 2023 expenditure realization consisted of central government expenditure (BPP) at Rp2,240.6 trillion and transfers to regions at Rp881.3 trillion.

The realization of central government expenditure is equivalent to 97.3% of the 2023 APBN target, down 1.7% compared to the achievement in the same period of the previous year.

The realization of central government expenditure consists of ministry/agency (K/L) expenditure of Rp1,153.5 trillion (115.2% of the 2023 APBN and Presidential Regulation 75/2023). This figure increased by 6.3% compared to 2022. According to Sri Mulyani, the increase in the K/L expenditure ceiling was, among other things, for increased social assistance, accelerated handling of regional road infrastructure, IKN development, and preparations for the general election.

Meanwhile, the realization of non-K/L expenditure reached Rp1,087.2 trillion (87.3% of the APBN or 83.5% of Presidential Regulation 75/2023), decreasing by 9% compared to the 2022 realization. This non-K/L expenditure includes energy subsidies and compensation amounting to Rp475.7 trillion (111.6% of the 2023 APBN or 106.9% of Presidential Regulation 75/2023).

On the other hand, the 2023 realization of Transfers to Regions (TKD) reached Rp881.3 trillion (108.2% of the 2023 APBN and Presidential Regulation 75/2023), increasing by 8% compared to 2022. Sri Mulyani stated that this increase was influenced, among other things, by the performance of regional governments, increased allocation of General Revenue Sharing (DBH), payment of DBH arrears up to 2022, and increased disbursement of Special Allocation Funds (DAK).

Meanwhile, state revenue reached Rp2,774.3 trillion in 2023, growing by 5.3% compared to 2022.

With higher state expenditure than state revenue, the State Budget (APBN) experienced a deficit of Rp347.6 trillion in 2023. This deficit is equivalent to 1.65% of the Gross Domestic Product (GDP).

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."