Jakarta (ANTARA) - Budget deficit for the 2018 fiscal year was set at Rp269 trillion, representing 1.79 percent of the country's gross domestic product (GDP), according to State Audit Board (BPK) Chairman Moermahadi Soerja Djanegara.
"The 2018 budget deficit is reported at Rp269 trillion, or 1.79 percent of the GDP," Moermahadi remarked while delivering the BPK Audit Report on the 2018 Central Government Financial Report (LKPP) at a plenary meeting at the Indonesian Parliament Building, here, Tuesday.
The deficit indicated in the audit results arose from the realization of state revenues of Rp1,943 trillion, or 102 percent of the target; and state expenditure of Rp2,213 trillion, or 99 percent of the ceiling.
Some Rp1,518 trillion was collected in tax revenue, Rp409 trillion in Non-Tax State Revenues (PNBP), and receipts of Rp15 trillion in grants.
"Tax revenues, as the main source of state budget funding, only reached 93 percent of the budget, a 13 percent rise than that in 2017," Moermahadi noted.
State expenditure comprised central government expenditures of Rp1,455 trillion; transfers to regions, Rp697 trillion; and village funds, Rp59 trillion. Realization of financing in 2018 was recorded at Rp305 trillion, or 113 percent of the deficit value, so that there would be more remaining Budget Financing of Rp36 trillion.
The BPK had provided a positive record of the basic macroeconomic assumptions, comprising the inflation rate and the three-month treasury bills that were below the assumption.
Nonetheless, the government failed to achieve the target for several macro indicators, including economic growth only reaching 5.17 percent from the assumption of 5.4 percent.
Moreover, oil lifting only reached 778 thousand barrels per day from the targeted 800 thousand barrels per day and gas lifting was only recorded at 1,145 thousand barrels per day from the target of 1,200 thousand barrels per day.
For the central government's financial position as of December 31, 2018, the balance of assets, liabilities, and equity were recorded at Rp6,325 trillion, Rp4,917 trillion, and Rp1,407 trillion, respectively.
In comparison with 2017, government assets increased by Rp377 trillion, liabilities rose by Rp510 trillion, and equity decreased by Rp132 trillion. EDITED BY INE
Source: Antara News