“By the end of May (2022), the state budget saw a surplus of Rp132.2 trillion. Compare it to the end of May last year when it suffered a deficit of Rp219.2 trillion. Once again, (the surplus) is an extraordinary inversion of our fiscal condition,” sh

Jakarta (ANTARA) – The state budget recorded a surplus of Rp132.2 trillion, or 0.74 percent of the national gross domestic product (GDP), as of the end of May this year, Finance Minister Sri Mulyani Indrawati informed on Thursday.

“By the end of May (2022), the state budget saw a surplus of Rp132.2 trillion. Compare it to the end of May last year when it suffered a deficit of Rp219.2 trillion. Once again, (the surplus) is an extraordinary inversion of our fiscal condition,” she remarked at an online press conference on the state budget in Jakarta on Thursday.

The budget surplus resulted from the difference between state revenues, which reached Rp1,070.4 trillion, and state spending, which touched Rp938.2 trillion, she said.

State revenues increased 47.3 percent from Rp726.5 trillion in the year-ago period. They comprised tax receipts, which swelled 51.4 percent to Rp846.1 trillion from Rp558.9 trillion in the corresponding period of the previous year, and non-tax state revenues, which stood at Rp224.1 trillion.

The tax receipts comprised Rp705.8 trillion in taxes, which rose 53.6 percent year on year from Rp459.6 trillion, and customs duties and excises, which increased 41.3 percent from Rp99.3 trillion in the year-ago period, the minister said.

Meanwhile, state spending fell 0.8 percent to Rp938.2 trillion from Rp945.7 trillion. The state spending accounted for 34.6 percent of the 2022 budget ceiling of Rp2,714.2 trillion.

The state spending comprised Rp318.2 trillion expenditure at ministries, Rp334.7 trillion spending at non-ministerial government institutions, and Rp284.3 trillion in transfers to regions and village funds. (INE)

Source: ANTARA News