"We will present report of the first semester realization of the state budget to the House by the end of June," Sri Mulyani said here on Tuesday.
Through the report of the state budget realization, the government could estimate the performance in implementation and the resiliency of the state budget until the end of the year, the minister said.
However, the performance in the implementation of the state budget and the decision to present the revised state budget depend much on the current macro economic condition, she added.
In the 2018 state budget, the government has set macro economic targets including economic growth at 5.4 percent, inflation at 3.5 percent, and the interest rate on three-month treasury bill (SPN) at 5.2 percent, and rupiah exchange rate at 13,400 per US dollar.
Then, the government also sets the price of Indonesian crude oil at US$48 per barrel, oil lifting at 800,000 barrels per day, and gas lifting at 1,200,000 barrel oil equivalent per day.
Realizations of macro economic indicators until end of May 2018 were economic growth at 5.06 percent or the same as in the first quarter of the year; inflation 1.67 percent year to date and 3.23 percent year-on-year on food prices under control notably ahead of Ied ul Fitr; the interest rate on the 3-month treasury bill averaged 4.23 percent propped up by front loading policy, increased intensity in the issuance of state bonds and solid condition of domestic investors; the Indonesian crude oil price at US$65.8 per barrel to follow the trend of oil prices in international market.
Rupiah exchange rate was highly volatile weakening to the level of 13,714 per dollar by May 31. Oil price is higher this year compared to an average of US$50 per barrels in 2017.
The oil price hike is expected to give positive impact on non tax state income, the minister said.
Meanwhile, oil lifting in the first four months of the year averaged 742,000 barrels per day or falling short of the target and gas lifting averaged 1,138,000 barrels oil equivalent per day.
Oil and gas lifting which fell below the targets contributed to the deficit in the country`s trade balance in the oil and gas sector in early 2018. (AS)
(T.SYS/B/H-ASG/C/R013)
Reporter: antara
Editor: Heru Purwanto
Copyright © ANTARA 2018
