Indonesia's Finance Ministry: October 2021 State Budget Deficit Reaches Rp 548.9 Trillion

The Ministry of Finance (Kemenkeu) recorded a State Budget (APBN) deficit of Rp 548.9 trillion in October 2021. This figure is equivalent to 3.29% of the Gross Domestic Product (GDP).

The October 2021 APBN deficit was 28.2% lower than the same period the previous year. In October 2020, the APBN deficit was recorded at Rp 764.8 trillion.

This deficit was due to lower state revenue realization compared to state expenditure. State revenue realization was recorded at Rp 1,510 trillion until last month. Meanwhile, state expenditure was recorded at Rp 2,058.9 trillion in the first ten months of this year.

Nevertheless, state revenue realization grew by 18.2% compared to the same period last year, which was Rp 1,277 trillion. The details are as follows: tax revenue amounted to Rp 953.6 trillion; customs and excise revenue amounted to Rp 205.8 trillion; and non-tax state revenue (PNBP) amounted to Rp 349.2 trillion.

Meanwhile, state expenditure realization grew by 0.8% compared to the same period the previous year, which was Rp 2,041.8 trillion. The details are as follows: central government expenditure reached Rp 1,416.2 trillion; and transfers to regions and village funds (TKDD) reached Rp 642.6 trillion.

Furthermore, the primary balance experienced a deficit of Rp 266.9 trillion until October 2021. This figure is 48% lower than the same period the previous year, which was a deficit of Rp 513.2 trillion.