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INDONESIAN Finance Minister, Sri Mulyani Indrawati said that the 2024 State Revenue and Expenditure Budget (APBN) will have a deficit of IDR 21.8 trillion or equivalent to 0.10% of Gross Domestic Product (GDP) in May 2024. The deficit in May 2024 was still within the safe range of the 2024 deficit target of 2.29%.
“Overall, we have experienced a deficit of IDR21.8 trillion or 0.1%. The 2024 APBN is the APBN designed by the government and approved by the House of Representativess (DPR) to be implemented in 2024, the deficit posture is 2.29% of GDP,” said Sri Mulyani at the press conference “Current Economic Fundamental Conditions and RAPBN 2025” in Jakarta, Monday (06/24) 2024.
The State Treasurer also explained that up to May 2024, state revenue was recorded at IDR1,123.5 trillion or down 7.1% compared to the same period in 2023. Then, tax revenue was recorded at IDR896.5 trillion or experienced a contraction of 8.4% overall. annually (year-on-year/yoy).
According to Sri Mulyani, the decline in government revenue was mainly due to the decline in commodity prices, which also resulted in lower tax revenue.
“We continue to take measures together with the Ministries/Institutions and local governments in terms of transfers so that we maintain development priorities and economic growth, but do not make the APBN a source of vulnerability,” she stated.
Sri Mulyani detailed that as of May 31, 2024, realized state revenue was recorded at IDR1,123.5 trillion. Meanwhile, government expenditure was recorded at IDR1,145.3 trillion. In May, our primary balance was still at a surplus of IDR184.2 trillion. This is still a very high primary balance surplus. [antaranews]
