Indonesia's 2023 State Budget Surplus Reaches Rp153.5 Trillion in July

The Indonesian Ministry of Finance recorded a surplus in the State Budget (APBN) in July 2023.

Finance Minister Sri Mulyani stated that state revenue reached Rp1,614.8 trillion in July 2023. This figure is up 4.1% year-on-year (yoy) from Rp1,551 trillion in the same period the previous year.

The July 2023 achievement also fulfilled 65.6% of this year's APBN target. "This is quite good, actually very strong," said Ani, as she is also known, during an online press conference, *Our APBN August 2023 Edition*, on Friday (11/8/2023).

State expenditure has been implemented or realized at Rp1,461.2 trillion. This figure is up 1.2% (yoy) from Rp1,444.8 trillion and has also fulfilled 47.7% of the budget allocation.

Thus, the APBN position experienced a surplus of Rp153.5 trillion, surging 44% (yoy) from the previous Rp106.1 trillion. This APBN surplus is equivalent to 0.72% of the Gross Domestic Product (GDP).

"From the primary balance side, there is also a surplus of Rp394.5 trillion," said Ani.

Ani added that the APBN is influenced by the developing economy, both domestically and globally. Conversely, the developing economy also influences the APBN.

Several components are driving this, one of which is the manufacturing industry. Ani mentioned that Indonesia's manufacturing sector is experiencing expansion and is even strengthening.

"Global economic conditions are still showing weakness. This is seen from the global manufacturing PMI, which is in a contractive position," said Ani.

(Also read: Indonesia's APBN Surplus Soars 66.9% in the First Half of 2023)