15-12-2023 (JAKARTA) Indonesia’s finance minister announced on Friday that the country’s state budget recorded a deficit of 35 trillion rupiah ($2.26 billion) from January to December 12, accounting for 0.17 per cent of the gross domestic product (GDP).
Following a surge in spending, the budget has been in deficit since October, as expenditures caught up with revenues.
During the aforementioned period, total revenues reached 2,553.2 trillion rupiah, coming close to meeting the full-year target. However, total spending amounted to 2,588.2 trillion rupiah, falling approximately 17 per cent short of the allocated amount for the entire year. Finance Minister Sri Mulyani Indrawati shared these details during a press conference.
The government had earlier estimated that the budget deficit for this year would remain below 2.3 per cent of the GDP, a slight decrease from the 2.35 per cent recorded in 2022.
