The government has pushed state spending to reach Rp 1.05 quadrillion (US$72.94 billion) as of the end of August, or more than half of the full-year target, data from the Finance Ministry has shown.

The August figure was around 15.4 percent higher than a month before and was equal to 53.1 percent of the full-year target.

'€œThis is the official published data. However, if we take a look at the Sept. 16 data, the amount of spending has actually inched closer to 60 percent of the target,'€ Finance Minister Bambang Brodjonegoro said at a press conference on Thursday.

'€œWe estimate that full-year state spending realization will reach between 94 and 96 percent,'€ he added.

The state spending target itself has been set at Rp 1.98 quadrillion under the revised 2015 state budget.

The August data revealed that the government had disbursed Rp 621.3 trillion allocated for central government spending while as much as Rp 432.9 trillion was disbursed as regional transfer and village funds.

Most of the central government'€™s spending, Rp 320.7 trillion, was channeled into ministries and agencies while the rest, Rp 300.6 trillion, was directed toward other non-ministerial purposes, including energy subsidies.

The latest data revealed that the Social Affairs Ministry posted the highest budget realization with 64.7 percent, followed by the National Police with 60.9 percent and the Finance Ministry with 59.6 percent.

On the other hand, the Public Works and Public Housing Ministry, the Transportation Ministry, and the Energy and Mineral Resources Ministry only booked 28.3 percent, 15.1 percent and 14.9 percent, respectively.

'€œThe central government has realized around Rp 54.9 trillion of spending for various infrastructure-related works, but there were also other disbursements for infrastructure directed through regional transfers and other channels,'€ he said.

'€œAll in all, we have disbursed about Rp 90 trillion out of the Rp 290.3 trillion earmarked for infrastructure this year,'€ he added.

Bambang acknowledged that the amount of non-ministerial spending was lower than what was posted during the same period last year, but argued that the government was no longer required to manage '€œmassive'€ fuel subsidy funds like it was required to do in 2014.

Meanwhile, the data revealed that in terms of revenues, the government had already obtained almost half of the state revenue target by the end of August.

The amount of revenues stood at Rp 867.5 trillion in August, while the total target was set at Rp 1.76 quadrillion.

Income from tax, excise and customs accounted for 80.6 percent of state revenues, while non-tax income accounted for 19.4 percent.

With the latest results, the deficit stood at 1.6 percent of the budget.

The government has said that it was preparing to see the deficit widen to 2.23 percent this year due to possible shortfalls in tax revenues and total state spending that would not reach 100 percent by the year'€™s end.

Popular

Volcano erupts in North Sulawesi, hundreds evacuated

Dubai roads, airport reel from floods after record rains

Ramadan boosts consumer confidence, retail sales