2018 Primary Balance Deficit Lowest Since 2012

Economics & Macro

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03/01/2019 14:53 WIB

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The Ministry of Finance announced that the 2018 primary balance still recorded a deficit of Rp 1.8 trillion, or 0.01% of GDP.

Primary Balance and Ratio to GDP (2008-2018)

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2018 Primary Balance Deficit Lowest Since 2012

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Primary Balance and Ratio to GDP (2008-2018)

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The Ministry of Finance announced that the 2018 primary balance still recorded a deficit of Rp 1.8 trillion, or 0.01% of the Gross Domestic Product (provisional figure). This indicates that the government still had to borrow funds to pay government debt interest that had matured because the existing budget was insufficient.

This primary balance deficit was the lowest since 2012, both in value and as a ratio to GDP. The 2018 primary balance deficit improved from the previous year. As is known, the primary balance in 2017 recorded a deficit of Rp 124.4 trillion, or 0.92% of GDP.

The primary balance is the difference between total state revenue minus state expenditure, excluding debt interest payments. If state revenue is greater than state expenditure (excluding debt interest payments), then the primary balance is in surplus, and the government has funds to pay debt interest. Conversely, if state expenditure is greater than state revenue, the primary balance is in deficit, and there are no funds to pay debt interest.

"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."