Six Positive Indicators Supporting the May 2019 Economy

Finance Minister Sri Mulyani stated that the macroeconomic conditions and the performance of the State Revenue and Expenditure Budget (APBN) until May 31, 2019, were quite good. This can be seen from six indicators that supported economic growth in May 2019.

The first indicator is the realization of state revenue, which grew by 6.2% to Rp 728.5 trillion. This growth in state revenue is higher than the April 2019 period, which only increased by 0.5% to Rp 530.74 trillion. The second indicator is tax revenue, which increased by 5.7% to Rp 563.9 trillion. Meanwhile, in April 2019, the growth in tax revenue was only 4.72%.

The third indicator is Non-Tax State Revenue (PNBP), which grew by 8.6% to Rp 158.4 trillion. This figure improved compared to April 2019, which recorded negative growth of 14.8% with a realization of Rp 93.97 trillion.

The fourth indicator is state expenditure, which was absorbed at Rp 855.9 trillion, up 0.79% compared to April 2019 at Rp 631.78 trillion. Next, the realization of the APBN deficit and the debt-to-Gross Domestic Product (GDP) ratio. The realization of the APBN deficit as of May 2019 was Rp 127.5 trillion or 0.79% of GDP. The debt-to-GDP ratio increased slightly by 0.07% compared to the previous month to 29.72% of GDP. Nevertheless, the realization of the APBN deficit and the debt ratio are still within safe limits.

(Read Databoks: [Government Allocates Rp 415 Trillion for Infrastructure Development in 2019](https://databoks.katadata.co.id/datapublish/2018/12/10/pemerintah-anggarkan-rp-415-triliun-untuk-membangun-infrastruktur-2019))