Indonesia Posts $4.7 Billion State Budget Surplus As of April
Jakarta. Indonesia has recorded a state budget surplus of Rp 75.7 trillion ($4.7 billion) or about 0.33 percent of Indonesia’s gross domestic product as of April 30.
Finance Minister Sri Mulyani also reported that the country’s primary balance saw a Rp 237.1 trillion surplus.
“Our state budget and primary balance are still in a surplus. Our state budget is mainly influenced by today’s global conditions,” Sri Mulyani told a press briefing in Jakarta on Monday.
Indonesia posted Rp 924.9 trillion in state revenue, about 33 percent of the targeted Rp 2,802.3 trillion. However, the overall state revenue saw a 7.6 percent year-on-year (yoy) drop. Sri Mulyani attributed the decline to the soaring commodity prices in 2023.
About Rp 624.2 trillion of the overall state revenue came from taxes. The government is seeking to amass Rp 2,309.9 trillion in tax revenue, meaning that it has only reached 31.38 percent of its target. Some Rp 95.7 trillion of the state revenue were customs and excise duties. Non-tax state revenue stood at Rp 203.3 trillion.
The government has spent a total of Rp 849.2 trillion as of April 30. This is equivalent to 25.5 percent of this year’s budget ceiling of Rp 3,324.1 trillion. “So, state expenditure rose 10.9 percent yoy,” Sri Mulyani said.
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