Social Protection Realization Increased in January 2023, Mostly for KUR Subsidies

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Erlina Fury Santika 23/02/2023 20:06 WIB

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Social protection spending of Rp14.6 trillion was realized in January 2023. The majority went to KUR subsidies.

Social Protection Budget Realization (January 2019-January 2023)

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Social Protection Realization Increased in January 2023, Mostly for KUR Subsidies

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Social Protection Budget Realization (January 2019-January 2023)

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A report released by the Ministry of Finance (Kemenkeu) shows that the realization of the social protection budget in January 2023 reached Rp14.6 trillion. This fund was taken from the 2023 State Budget (APBN).

This figure shows a 6.2% increase from the January 2022 period, which was Rp13.7 trillion. However, this figure is still small compared to the 2021 realization, which was Rp22.3 trillion.

The 2023 realization includes spending for ministries/agencies (K/L) and interest subsidies for People's Business Credit (KUR).

Spending for K/L reached Rp3.9 trillion. This was disbursed to the Ministry of Social Affairs in the form of social assistance (bansos) for disaster relief and assistance for people with disabilities.

Furthermore, funds were disbursed to the Ministry of Religious Affairs for the distribution of religious-based Kartu Indonesia Pintar (KIP) college scholarships.

The largest amount of spending was for KUR interest subsidies, reaching Rp10.7 trillion.

Sri Mulyani, Minister of Finance, stated that the target of KUR is the Micro, Small, and Medium Enterprises (MSMEs). They receive credit with low-interest rates because the APBN spends Rp10.7 trillion to subsidize the interest.

"So, they don't experience an increase in interest rates on their loans," said Sri Mulyani in the *APBN Kita* press conference held on Wednesday (22/2/2023).

Sri Mulyani said that KUR will increase this year, so spending on subsidies is estimated to be higher. According to her, this is the government's way of protecting MSMEs so that they have access to capital.

"However, (MSMEs) do not bear the increasing interest costs due to rising inflation and interest rates," Sri Mulyani explained.

Here is the realization of the social protection budget from January 2019 to January 2023:

* 2019: Rp15.2 trillion
* 2020: Rp13.2 trillion
* 2021: Rp22.3 trillion
* 2022: Rp13.7 trillion
* 2023: Rp14.6 trillion

(Also read: Realization of Food Security Budget in January 2023 Increased, Rice Prices are Expected to be Stable)

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."

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Social Protection Realization Increased in January 2023, Mostly for KUR Subsidies

Social Protection Realization Increased in January 2023, Mostly for KUR Subsidies

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Social Protection Realization Increased in January 2023, Mostly for KUR Subsidies

Social Protection Realization Increased in January 2023, Mostly for KUR Subsidies

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