Indonesia's State Budget Deficit Falls 31% in November 2021

The Ministry of Finance (Kemenkeu) recorded a State Revenue and Expenditure Budget (APBN) deficit of Rp 611 trillion in November 2021. This is equivalent to 3.63% of the Gross Domestic Product (GDP).

The APBN deficit in November 2021 decreased by 31% compared to the same period the previous year. In November 2020, the APBN deficit was recorded at Rp 885.1 trillion.

This deficit is due to lower state revenue realization compared to state expenditure. State revenue realization was recorded at Rp 1,699.4 trillion until last month. Meanwhile, state expenditure was recorded at Rp 2,310.4 trillion in the first eleven months of this year.

Nevertheless, state revenue realization grew by 19.4% compared to the same period last year, which was Rp 1,423.1 trillion. The details are as follows: tax revenue amounted to Rp 1,082.6 trillion; customs and excise revenue amounted to Rp 232.3 trillion; and non-tax state revenue (PNBP) amounted to Rp 382.5 trillion.

Meanwhile, state expenditure realization experienced a growth of 0.1% compared to the same period the previous year, which was Rp 2,308.2 trillion. The details are as follows: central government expenditure reached Rp 1,599.3 trillion; and transfers to regions and village funds (TKDD) reached Rp 711 trillion.

The primary balance was a minus Rp 281.8 trillion until November 2021. This figure is 51.8% lower compared to the same period the previous year, which was a minus Rp 584.1 trillion.