Budget deficit at 0.26% of GDP: Finance Minister

Budget deficit at 0.26% of GDP: Finance Minister

Finance Minister Sri Mulyani Indrawati speaks at an online press conference on the state budget in Jakarta on Tuesday (February 23, 2021). (ANTARA/HO-Kemenkeu/pri)

Jakarta (ANTARA) - Indonesia’s budget deficit reached Rp45.7 trillion in January, 2021, or 0.26 percent of the national gross domestic product (GDP), Finance Minister Sri Mulyani Indrawati informed Tuesday.

"The deficit of Rp45.7 trillion, or 0.26 percent, may not differ very much from last year's Rp34.8 trillion because the COVID-19 pandemic had not struck in January, 2020," she said during an online press conference on the state budget originating from Jakarta.

The Rp45.7-trillion deficit resulted from the difference between state revenues, which stood at Rp100.1 trillion, and state spending, which reached Rp145.8 trillion, in January this year, she explained.

State revenues contracted 4.8 percent to reach Rp100.1 trillion as tax receipts fell 15.3 percent to Rp68.5 trillion in January, 2021 from Rp80.8 trillion in the corresponding period of last year, she explained.

Related news: 2020 budget deficit at 6.09 percent of GDP

Meanwhile, customs and excise receipts reached Rp12.5 trillion, accounting for 5.8 percent of the target of Rp215 trillion. They showed an increase of 175.3 percent compared to receipts of Rp4.5 trillion recorded in January, 2020.

Non-tax state revenues, which reached Rp19.1 trillion, or 6.4 percent of the target of Rp298.2 trillion, in January, 2021 also showed a decline of 2.9 percent compared to Rp19.7 trillion in the year-ago period.

On the other hand, the realization of state expenditure, which reached Rp145.8 trillion in January, 2021, showed an increase of 4.2 percent compared to January, 2020, when the figure was recorded at Rp139.9 trillion. (INE)

Related news: Government increases 2021 state budget deficit to 5.7 percent