Indonesia posted Rp36 trillion budget deficit for January

Indonesia posted Rp36 trillion budget deficit for January

Finance Minister Sri Mulyani Indrawati gave the thumbs up when the House of Representatives (DPR) approved her proposal to impose excise on plastic bags during a working meeting at the parliament building on Wednesday (Feb 19, 2020) ANTARA FOTO/Aditya Pradana Putra/foc.

"The realized (budget deficit) is lower than that of the same period of 2019 at Rp45.1 trillion."
Jakarta (ANTARA) - Indonesia's state budget deficit reached Rp36.1 trillion, or 0.21 percent, of the national gross domestic product (GDP), as of late January 2020, Finance Minister Sri Mulyani Indrawati stated.

"The realized (budget deficit) is lower than Rp45.1 trillion recorded during the corresponding period in 2019,” she stated at a press conference here on Wednesday.

The budget deficit resulted from the difference of state revenues worth Rp103.7 trillion and state expenditures amounting to Rp139.8 trillion, she remarked.

The state revenues comprised tax receipts worth Rp84.7 trillion and non-tax state receipts worth Rp19 trillion, she noted.

"The realized state revenues account for 4.5 percent of the target, although the weak global situation is still underway," she stated.

The state expenditures comprised the central government's expenditures worth Rp71.4 trillion and fund transfer to regions and village funds worth Rp68.4 trillion, she explained.

The central government's expenditures comprised ministries'/institutions' spending worth Rp30.9 trillion and non-ministerial/institutional agencies' spending of Rp40.5 trillion, she revealed.

"The realized state expenditures, representing 5.5 percent of the target, have offered stimuli to the economy," she noted.

The minister further pointed to debt servicing at the start of 2020 being lower than that of the earlier year, at Rp68.2 trillion.

The debt servicing contracted 44.6 percent over the issuance of government bonds at the end of January 2019, reaching Rp123 trillion.

"The government will always maintain the credibility of the state budget by increasing state revenues optimally, improving the performance of the state budget, and managing financing in a prudential and accountable way," she added. Related news: Indonesia's trade balance records $0.86 billion deficit

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