Central Government Spending Realization Down 5.9% as of October 2023

Economics & Macro

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Cindy Mutia Annur 28/11/2023 21:10 WIB

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The Ministry of Finance reported that central government spending realized up to October 2023 reached Rp1,572.2 trillion. This spending realization was down 5.9% compared to the same period last year

Realization of Central Government Spending up to October (2019-2023)

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Central Government Spending Realization Down 5.9% as of October 2023

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Realization of Central Government Spending up to October (2019-2023)

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The Ministry of Finance reports that central government spending (BPP) in the State Budget (APBN) reached Rp1,572.2 trillion by October 2023. This spending realization marks the first decrease in the last four years.

"With this total spending, the BPP (October 2023) decreased by 5.9% compared to last year," said Finance Minister Sri Mulyani in a press conference for *APBN KiTa* November 2023 edition on the Kemenkeu YouTube account, Friday (24/11/2023).

Over the past four years, the highest BPP realization was recorded in October 2022 at Rp1,671.4 trillion. The lowest realization was in October 2019, before the Covid-19 pandemic, at Rp1,120.8 trillion.

Sri Mulyani stated that the decrease in BPP realization as of October 2023 needs further scrutiny, considering only two months remain in the APBN fiscal year.

"Therefore, in November and December, spending by ministries/agencies (K/L) and non-K/L will be closely examined to see if they can realize the entire allocation that has been budgeted in the APBN," she said.

Sri Mulyani said that the BPP realization up to October 2023 only reached 70% of the total budget ceiling this year, which is Rp2,246.5 trillion.

This spending consists of ministry/agency (K/L) spending of Rp768.7 trillion, or 76.8% of the total budget ceiling of Rp1,000.8 trillion. This realization increased by 1.9% year-on-year (yoy).

"This is mainly due to spending (K/L) that is quite visible, ranging from the implementation of the general election, the development of the IKN (new capital city), the completion of priority infrastructure, and various social assistance spending," said Sri Mulyani.

Meanwhile, the realization of non-K/L spending until October 2023 reached Rp803.6 trillion, or a decrease of 12.4% year-on-year (yoy). This spending was channeled for fuel and electricity subsidies and compensation, the Kartu Prakerja program, and fertilizer subsidies.

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."