Indonesia's State Budget Surplus Soars 66.9% in First Half of 2023

Economics & Macro

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Cindy Mutia Annur 27/07/2023 13:30 WIB

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The Ministry of Finance reported that Indonesia recorded a state budget surplus of Rp152.3 trillion in the first half of 2023, a 66.9% increase compared to the same period last year.

Indonesia's State Budget Realization, First Semester (2022-2023)

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Indonesia's State Budget Surplus Soars 66.9% in First Half of 2023

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Indonesia's State Budget Realization, First Semester (2022-2023)

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Indonesia's State Revenue and Expenditure Budget (APBN) performance recorded positive growth again in the first half of 2023.

The Ministry of Finance reported that the APBN surplus in the first half of this year reached Rp152.3 trillion, equivalent to 0.71% of the Gross Domestic Product (GDP).

According to Minister of Finance Sri Mulyani Indrawati, this APBN surplus is significantly higher than the Rp91.2 trillion recorded in the first half of 2022.

"The (APBN) surplus in the first half of this year is 66.9% higher than the previous year," said Sri Mulyani in an online press conference on Monday (24/6/2023).

In terms of primary balance, the APBN experienced a surplus of Rp368.2 trillion, a 32% year-on-year (yoy) increase. The primary balance is the total revenue minus government spending excluding interest payments on debt.

Furthermore, budget financing up to the first half of 2023 reached Rp135.1 trillion, a 14.8% yoy decrease.

"This is a consequence of the surplus position, resulting in a decrease in budget financing," said Sri Mulyani.

The increase in the APBN surplus in the first half of 2023 was due to strong growth in state revenue.

In the first half of this year, state revenue reached Rp1,407.9 trillion, a 5.4% yoy increase. This realization is equivalent to 57.2% of the 2023 revenue target of Rp2,463 trillion.

Meanwhile, government spending grew by 0.9% (yoy) in the first half of 2023, with a realization of Rp1,255.7 trillion. The total target for government spending this year is Rp3,061.2 trillion.

Editor : Adi Ahdiat

"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."