2020 budget deficit at 6.09 percent of GDP

Jakarta (ANTARA) - Indonesia’s budget deficit in the year ending December 31, 2020 reached Rp956.3 trillion, or 6.09 percent of the national gross domestic product (GDP), Finance Minister Sri Mulyani Indrawati informed on Wednesday.

The 2020 budget deficit was Rp82.9 trillion lower than the Rp1,039.2 trillion set by Presidential Regulation No. 72/2020, she said at a press conference here.

"It is lower than 6.34 percent set in the Presidential Regulation No. 72/2020. However, it is higher than Rp307.2 trillion, or 1.76 percent of the GDP, set in the law under sound conditions," she added.

The budget deficit was recorded at 6.09 percent as the overall state revenue in 2020 reached Rp1,633.6 trillion, or 96.1 percent of the target of Rp1,699.9 trillion set for the revised 2020 state budget under the Presidential regulation number 72/2020.

The state revenue was far smaller than the realization of state spending of Rp2,589.9 trillion this year, which reached 94.6 percent of the target of Rp2,739.2 trillion set in the revised state budget. The minister said state revenue recorded a 16.7-percent contraction year-on-year as tax revenue fell by minus 19.7 percent y-o-y. The tax revenue only reached Rp1,070 trillion, or 89.3 percent of the target of Rp1,198.8 trillion set under the Presidential regulation.

Meanwhile, state revenue from customs and excise duties reached Rp212.8 trillion, or 103.5 percent of the target of Rp205.7 trillion. However, the figure showed a decline of 0.3 percent compared the same period of 2019, when it was recorded at Rp213.5 trillion.

Non-tax state revenue stood at Rp338.5 trillion, or 115.1 percent of the target of Rp294.1 trillion.

On the other hand, state revenue from grants rose significantly by 945.8 percent to Rp12.3 trillion from Rp5.5 trillion a year earlier.

The realized budget spending stood at Rp2,589.9 trillion and comprised central government spending of Rp1,827.4 trillion, which reached 92.5 percent of the target of Rp1,975.2 trillion, and transfer of funds to local administrations and village funds worth Rp762.5 trillion, which reached 99.8 percent of the target of Rp763.9 trillion set under the Presidential regulation.

Source: Antara News

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