"The state budget deficit was set at Rp598.2 trillion, or 2.8 percent of the gross domestic product (GDP). The deficit on December 12, which amounted to Rp35 trillion, or 0.17 percent, was smaller than the initial deficit forecast," she noted in a press conference on Friday.
According to the minister, state revenue as of December 12, 2023, was recorded at Rp2,553.2 trillion, or 103.7 percent of the initial state budget target of Rp2,463 trillion. It is estimated that by the end of the year, it can reach the revenue target in the revised 2023 state budget in accordance with Presidential Regulation Number 75 of 2023 that amounted to Rp2,637.2 trillion.
In addition, state revenue until December 12, 2023, was recorded to grow 4.2 percent as compared to Rp2,451.8 trillion during the same period in the previous year, Indrawati stated.
She noted that income growth was supported by Tax Revenue, which grew 4.4 percent annually to Rp1,996.4 trillion and Non-Tax State Revenue (PNBP), which increased 3.1 percent annually to Rp554.5 trillion.
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In terms of expenditure, as of December 12, 2023, the state had spent Rp2,588.2 trillion, or reached 84.55 percent of the expenditure target in the initial 2023 state budget of Rp3,061.2 trillion, or reached 83 percent of the revised state budget of Rp3,117.2 trillion, she remarked.
Meanwhile, state spending was recorded to decrease by 4.1 percent as compared to Rp2,698.4 trillion recorded during the same period in the previous year due to a decrease in central government spending by 5.9 percent to reach Rp1,840.4 trillion.
However, transfers to regions increased by 0.6 percent as compared to Rp747.8 trillion in the previous year.
Although the state budget is experiencing a deficit, the minister noted that the primary balance is still recorded in a surplus position of Rp378.6 trillion, as compared to the 2023 initial state budget estimating a deficit of Rp156.8 trillion.
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Translator: Sanya Dinda S, Resinta Sulistiyandari
Editor: Yuni Arisandy Sinaga
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