Jakarta. Indonesia managed to keep its January-October budget deficit under control at 2.02 percent of gross domestic product or GDP, reaching Rp 479.7 trillion or around $28.6 billion, the government announced Thursday.

The total revenues amounted to Rp 2,113.3 trillion in the first ten months of 2025. The government spent Rp 2,593 trillion in the period, with the money mostly going to priority programs aimed at bolstering purchasing power and infrastructure.

“So it's still under control, below the 2.78 percent fiscal deficit outlook for 2025. This reflects our strong commitment to fiscal discipline,” Finance Minister Purbaya Yudhi Sadewa told a press conference in Jakarta.

The numbers had soared compared to the 1.40 percent deficit-to-GDP ratio witnessed in January-October 2024, the ministry data showed.

Purbaya, who took the job almost three months ago, revealed that taxes had contributed Rp 1,459 trillion to the state revenue that Indonesia had collected as of October. Approximately Rp 249.3 trillion came from customs and excise. Non-tax revenue amounted to Rp 402.4 trillion. The overall revenue is on a downtrend, as Indonesia registered Rp 2,247.6 trillion in state receipts from January to October 2024.

Indonesia has set the full-year state revenue target at Rp 2,865.5 trillion.

Southeast Asia’s biggest economy is planning to spend no more than Rp 3,527.5 trillion throughout 2025. Central government expenditures had reached Rp 1,879.6 trillion in January-October, on top of Rp 713.4 trillion worth of regional transfers.