Indonesia's Finance Ministry Projects 2021 Budget Deficit to Fall to Rp 939.6 Trillion

The Ministry of Finance projects a 2021 State Budget (APBN) deficit of Rp 939.6 trillion. This figure is Rp 66.8 trillion lower than this year's target of Rp 1,006 trillion. However, the 2021 APBN deficit is still estimated to be around 5.7% of the Gross Domestic Product (GDP).

The reduced deficit is in line with the outlook for state revenue of Rp 1,760.7 trillion by the end of this year. This amount reaches 101% or Rp 17.1 trillion higher than the 2021 APBN target.

In detail, tax revenue is estimated at Rp 1,176.3 trillion, or 95.7% of the 2021 APBN target. Revenue from customs and excise duties is estimated at Rp 224.1 trillion, or 104.3% of the target.

Non-tax state revenue (PNBP) is estimated at Rp 357.7 trillion, or 119.9% of the target. Meanwhile, grant revenue is predicted to be Rp 2.7 trillion, a 299.1% increase from the target.

Meanwhile, state expenditure is estimated at Rp 2,700.4 trillion, or 98.2% of the target. This includes projected central government spending of Rp 1,929.6 trillion (98.7% of the target) and transfers to regions and village funds (TKDD) estimated at Rp 770 trillion (96.9% of the target).