Indonesia's Finance Ministry: State Budget Shows Rp10.3 Trillion Surplus in March 2022

The Indonesian Ministry of Finance's report shows that the State Budget (APBN) recorded a surplus in March 2022. This surplus was driven by state revenues exceeding state expenditures.

This marks the third consecutive month of a surplus in Indonesia's APBN. The March 2022 surplus reached Rp10.3 trillion, equivalent to 0.06% of the Gross Domestic Product (GDP).

This APBN surplus represents a 107.2% increase compared to the same period in the previous year. In March 2021, Indonesia's APBN recorded a deficit of Rp143.7 trillion.

Finance Minister Sri Mulyani noted that a surplus budget is a key indicator. The Ministry of Finance's report shows that state revenue in March 2022 reached Rp501 trillion, while state expenditure amounted to Rp490.6 trillion.

State revenue increased by 32.1% compared to March 2021 (Rp379.4 trillion). This comprised tax revenue of Rp322.5 trillion, customs and excise duties of Rp79.3 trillion, and non-tax state revenue (PNBP) of Rp99.1 trillion.

Meanwhile, state expenditure in March 2022 decreased by 6.2% compared to March 2021 (Rp523 trillion). This included central government spending of Rp314.2 trillion and transfers to regions and villages (TKDD) of Rp176.5 trillion.

The primary balance also recorded a surplus of Rp94.7 trillion in March 2022, up from Rp61.7 trillion the previous month.

This APBN surplus resulted in reduced financing needs. Budget financing was recorded at Rp139.4 trillion, a contraction of 58.1%.

"With this surplus, we still have excess budget or cash of Rp149.7 trillion," said Finance Minister Sri Mulyani in a press conference on Wednesday, April 20, 2022.