Indonesias budget deficit reaches 1.35 percent of GDP late September

Jakarta (ANTARA News) - Indonesias budget deficit stood at Rp200.2 trillion or 1.35 percent of the national gross domestic product (GDP) by the end of September 2018, Finance Minister Sri Mulyani Indrawati said.

"The budget deficit reached Rp200 trillion. Compared to Rp272 trillion in the same period last year, it fell by almost Rp72 trillion," she noted at a press conference on the development of the state budget here on Wednesday.

The budget deficit was also lower than that of the same month last year when it was recorded at 2 percent, she noted.

She said the budget deficit resulted from the difference between state revenues, which reached Rp1,312.3 trillion, or 69.3 percent of the target, and spending that reached Rp1,512.6 trillion, or 68.1 percent of the target.

The state revenues covered tax receipts worth Rp1,024.5 trillion or 63.3 percent of the target, non-tax state revenues worth Rp281.4 trillion or 102.2 percent of the target and grants worth Rp6.4 trillion or 538.6 percent of the target.

The tax receipts come from tax revenues, including income tax on oil and gas worth Rp900.9 trillion or 63.3 percent of the target and customs and excise receipts worth Rp123.6 trillion or 63.7 percent of the target, she said.

"Compared to last year when tax receipts only reached Rp879 trillion, tax receipts this year grew 16.5 percent," she said.

The spending consisted of the central governments spending worth Rp938.8 trillion or 64.5 percent of the target, and transfer of funds to region and village funds worth Rp573.8 trillion or 74.9 percent of the ceiling.

The central governments spending covered Rp511.5 trillion incurred by ministries or 60.4 percent of the ceiling and Rp427.3 trillion incurred by non-ministerial government institutions or 70.4 percent of the ceiling.

Source: ANTARA News

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