Indonesia's State Budget Records a Surplus of Rp132.2 Trillion in May 2022

Economics & Macro

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Cindy Mutia Annur 24/06/2022 10:40 WIB

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According to a report from the Ministry of Finance (Kemenkeu), the State Budget (APBN) recorded a surplus of Rp132.2 trillion in May 2022.

Indonesia's State Budget Realization (May 2021 - May 2022)

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Indonesia's State Budget Records a Surplus of Rp132.2 Trillion in May 2022

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Indonesia's State Budget Realization (May 2021 - May 2022)

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According to a report by the Ministry of Finance (Kemenkeu), the State Budget (APBN) recorded a surplus of Rp132.2 trillion in May 2022.

This figure is up 160.3% year-on-year (yoy) compared to May 2021, which recorded a deficit of Rp219.2 trillion.

"This is a remarkable turnaround in our fiscal condition," said Finance Minister Sri Mulyani in a press conference on the State Budget, Thursday (23/6/2022).

The APBN surplus is equivalent to 0.74% of the Gross Domestic Product (GDP). Furthermore, the primary balance also continued its surplus, reaching Rp298.9 trillion.

Sri Mulyani stated that the APBN surplus up to the fifth month of this year was driven by state revenue, which grew by 47.3% (yoy) to Rp1,070.4 trillion. State revenue until the end of May 2022 has even reached 58% of this year's APBN target.

The details are as follows: tax revenue reached Rp705.8 trillion, or up 53.6% (yoy). Customs and excise revenue grew by 41.3% (yoy) to Rp140.3 trillion, and Non-Tax State Revenue (PNBP) was recorded at Rp224.1 trillion, or up 33.7% (yoy).

Meanwhile, state expenditure contracted by 0.8% (yoy). Total state expenditure until the end of May 2022 reached Rp938.2 trillion, or 34.6% of the target.

Specifically, the realization of central government expenditure reached Rp653.9 trillion, or grew by 1% (yoy). Meanwhile, the realization of Transfers to Regions and Village Funds (TKDD) amounted to Rp284.3 trillion, experiencing a decrease of 4.6% (yoy).

With the APBN performance still recording a surplus, the realization of budget financing could be suppressed, falling by 73.2% (yoy). The total realization of budget financing in the first five months of this year amounted to Rp83.3 trillion, or less than 10% of the target.

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."