APSN Banner

State budget sees Rp 147 trillion surplus

Jakarta Globe - September 20, 2023

Arnoldus Kristianus, Jakarta – As of August 31, the state budget has achieved a surplus of Rp 147.2 trillion ($9.6 billion), equivalent to 0.7 percent of the gross domestic product (GDP), Finance Minister Sri Mulyani Indrawati announced on Wednesday.

During the monthly budget briefing at her office in Jakarta, the minister also reported a surplus of Rp 422.1 trillion in the primary balance of the budget.

In the first eight months of the year, state revenue reached Rp 1,821.9 trillion, which includes Rp 1,418.5 trillion in tax revenue. This figure represents 74 percent of the full-year target of Rp 2,463 trillion.

"The state's revenue has grown by 3.2 percent compared to August 2022," she noted.

Revenue from income tax in the non-oil and gas sectors totaled Rp 708 trillion, accounting for nearly half of the overall tax revenue. Additionally, revenue from value-added tax and luxury tax amounted to Rp 447.6 trillion, according to data from the Finance Ministry.

On the expenditure side, state spending reached Rp 1,674.7 trillion, which accounts for only 54.7 percent of the full-year target.

During the January to August period, the central government spent Rp 1,170.8 trillion, while financial transfers to regional governments totaled Rp 503.9 trillion.

Source: https://jakartaglobe.id/business/state-budget-sees-rp-147-trillion-surplu