Indonesia's State Revenue Soars, Leading to a Rp128.5 Trillion Budget Surplus in March 2023

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Cindy Mutia Annur 18/04/2023 13:09 WIB

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Indonesia's Ministry of Finance (Kemenkeu) reported a budget surplus of Rp128.5 trillion in March 2023.

Indonesia's State Budget Realization (March 2022 - March 2023)

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Indonesia's State Revenue Soars, Leading to a Rp128.5 Trillion Budget Surplus in March 2023

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Indonesia's State Budget Realization (March 2022 - March 2023)

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The Indonesian Ministry of Finance (Kemenkeu) reported that Indonesia's State Budget (APBN) recorded a surplus of Rp128.5 trillion (approximately US$8.6 billion) in March 2023. This surplus is equivalent to 0.61% of the Gross Domestic Product (GDP).

"Compared to March 2022, which also showed a surplus, albeit only Rp11.1 trillion, the March 2023 surplus is quite convincing at 0.61% of our GDP," said Finance Minister Sri Mulyani Indrawati in a press conference on the State Budget, Monday (April 17, 2023).

This surplus occurred because state revenue exceeded state expenditure. State revenue surged by 29% year-on-year (yoy) in March 2023, increasing from Rp501.8 trillion to Rp647.2 trillion.

Meanwhile, state expenditure in March 2023 reached Rp518.7 trillion, a 5.7% increase from Rp490.7 trillion in March 2022.

With the APBN's surplus performance, the primary balance in March 2023 reached Rp228.8 trillion, a 139.6% yoy increase. Budget financing amounted to Rp203.7 trillion.

Sri Mulyani stated that the positive momentum of economic growth must be maintained. She emphasized that the APBN is a crucial instrument for safeguarding public welfare and boosting the economy.

A robust APBN, Sri Mulyani continued, will provide Indonesia with the necessary resources to remain vigilant against various shocks and uncertainties throughout 2023, both domestic and international.

Editor : Padjar Iswara

"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."

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Indonesia's State Revenue Soars, Leading to a Rp128.5 Trillion Budget Surplus in March 2023

Indonesia's State Revenue Soars, Leading to a Rp128.5 Trillion Budget Surplus in March 2023

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Indonesia's State Revenue Soars, Leading to a Rp128.5 Trillion Budget Surplus in March 2023

Indonesia's State Revenue Soars, Leading to a Rp128.5 Trillion Budget Surplus in March 2023

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