The 2022 state budget deficit was recorded at Rp464.3 trillion, down 40.1 percent compared to last year's deficit of Rp775.1 trillion
Jakarta (ANTARA) - Indonesia’s state budget deficit in 2022 reached just 2.85 percent of the gross domestic product (GDP), lower than the 4.50 percent target set in the revised state budget, Finance Minister Sri Mulyani Indrawati informed on Tuesday.

"The 2022 state budget deficit was recorded at Rp464.3 trillion, down 40.1 percent compared to last year's deficit of Rp775.1 trillion. This shows a great fiscal consolidation. When compared to GDP, it is only 2.38 percent of the GDP," Indrawati said at a press conference, which was followed from here on Tuesday.

Temporary state revenue realization reached Rp2,626.4 trillion, or 115.9 percent of the Rp2,266.2 trillion target outlined in Presidential Regulation Number 98 of 2022 regarding the 2022 state budget revision. The figure reflected a growth of 30.6 percent compared to 2021.

State revenue was supported by tax revenue, which reached Rp2,034.5 trillion, or 114.0 percent of the Rp1,784.0 trillion target, and showed an increase of 31.4 percent from tax revenue of Rp1,278.6 trillion recorded in 2021.

Moreover, non-tax state revenue (PNBP) reached Rp588.3 trillion, or 122.2 percent of the Rp481.6 trillion target. The 2022 PNBP reflected a growth of 28.3 percent from Rp458.5 trillion the previous year.

"The performance of state revenues, whether it is taxes, customs, and non-tax revenues, has been outstanding for two consecutive years. When the economy improves, we will also begin to improve all state revenues," the minister informed.

She said that state revenues, which were boosted by rising commodity prices that included national leading export commodities, were used to protect the society and the economy.

State spending in 2022 was recorded at Rp3,090.8 trillion, or 99.5 percent of the Rp3,106.4 trillion target set in the presidential regulation.

The spending consisted of ministry and institution spending of Rp1,079.3 trillion, or 114.1 percent of the Rp945.8 trillion target; and spending on others of Rp1,195.2 trillion, or 88.2 percent of the target.

"Non-ministry or institutional spending includes energy subsidies and very large compensation, which we explained when the fuel price went up," Minister Indrawati said.

The quantum of energy subsidies and compensation provided in 2022 reached Rp551.2 trillion, or 109.7 percent of the Rp502.4 trillion target. Initially, the target for energy subsidies and compensation was only Rp152.5 trillion.

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Translator: Sanya D S, Mecca Yumna
Editor: Sri Haryati
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