April 23, 2021 | Invest Indonesia

Indonesia’s first-quarter budget deficit at 0.82% of GDP

Source from: Antara News

Original News HERE

Indonesia’s budget deficit in the first quarter of 2021 reached Rp144.2 trillion, or 0.82 percent of the national gross domestic product (GDP), Deputy Finance Minister Suahasil Nazara said.

The budget deficit accounted for 14.3 percent of the target of 5.7 percent, or Rp1,006.4 trillion, set in the state budget, he disclosed at an online press conference on the state budget on Thursday.

“The deficit reached 0.82 percent of the GDP compared to 0.6 percent of the GDP last month. So, these all are within a corridor that can be continuously controlled and monitored,” he assured.

The 0.82-percent deficit resulted from state spending, which rose to Rp523 trillion, an increase of 15.6 percent from Rp452.4 trillion recorded in the same period of last year, he said.

The realization of spending, which accounted for 19 percent of the target of Rp2,750 trillion in the state budget, comprised central government spending of Rp350.1 trillion, which increased 26 percent from Rp277.9 trillion in March, 2020.

On the other hand, state income swelled 0.6 percent until late March, 2021 to Rp378.8 trillion from Rp376.4 trillion in the year-ago period.

The state income comprised tax receipts, which contracted 5.6 percent in March, 2021, to reach Rp228.1 trillion, or 18.6 percent of the target of Rp1,229.6 trillion.

Customs and excise receipts reached Rp62.3 trillion, or 29 percent of the target of Rp215 trillion. Compared to the year-ago period, they increased 62.7 percent.

Meanwhile, non-tax state revenues and grants reached Rp88.4 trillion, or 29.6 percent of the target of Rp299.1 trillion. Compared to the year-ago period, they recorded a contraction of 8.4 percent.

Reporter: Astrid Faidlatul H/Suharto
Editor: Rahmad Nasution