Indonesia Reports Rp 153T Deficit in State Budget
Jakarta. The state budget has been in a deficit of Rp 153.7 trillion ($10 billion) as of August 31, representing 0.68 percent of the gross domestic product, Finance Minister Sri Mulyani Indrawati revealed on Monday.
The deficit remains within the limit allowed by budget regulations, she told a news conference at her office in Jakarta.
During the eight-month period ending August this year, state revenue totaled Rp 1,777 trillion, or 63.4 percent of the full-year target. The amount was 2.5 percent lower than in the same period last year.
Meanwhile, state spending surged by 15.3 percent y-o-y to reach Rp 1,930.7 trillion, or 58.1 percent of the annual target for 2024.
“Since early this year, state spending has consistently increased by double digits. We had extra spending on the election and social assistance related to El Nino earlier this year, driving up the overall spending,” Sri Mulyani said.
The government has projected a deficit of Rp 609.7 trillion or 2.7 percent of GDP by the end of the year.
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