Indonesia misses state revenue target by 37.7 percent in May

Indonesia misses state revenue target by 37.7 percent in May

Finance Minister Sri Mulyani Indrawati. ANTARA/screen shot of @smindrawati/pri instagram account. ANTARA/instagram @smindrawati/sh

Jakarta (ANTARA) - Indonesia posted state revenue of Rp664.3 trillion in the 2020 state budget as of May 31, or 37.7 percent of targeted Rp1,760.9 trillion in Presidential Regulation (Perpres) No. 54 of 2020, the Finance Ministry stated.

"In comparison with May last year, state revenue contracted by nine percent," Finance Minister Sri Mulyani Indrawati remarked here on Tuesday.

The contraction, as projected in the presidential regulation, was owing to the COVID-19 pandemic, as companies, individuals, and economic activities had been reeling from the pressure.

The state revenue comprised Rp526.2 trillion of tax revenue, or some 36 percent of the target, and contracted 7.9 percent from that of the previous year.

Non-tax state revenue (PNBP) during the period had reached Rp136.9 trillion, or plunged 13.6 percent from the previous year and was only 46 percent of the target set at Rp297.8 trillion.

Meanwhile, state expenditure as of May 31 has reached Rp843.9 trillion, or 32.3 percent of the allocation reaching Rp2,613.8 trillion in accordance with Perpres No. 54 of 2020.

The expenditure comprised Rp270.4 trillion of ministry/institution expenditure that contracted by 6.2 percent as compared to the corresponding period in 2019.

Non-ministry/institution expenditure rose by 10 percent to reach Rp267 trillion, while fund transfer to regional administrations had touched Rp306.6 trillion, or contracted 5.7 percent, as compared to the corresponding period last year.

As of May 2020, the budget deficit had reached Rp179.6 trillion, of the total deficit assumption at Rp852.9 trillion.  Related news: President keeps close eye on current global economic growth
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