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Lower budget deficit seen in first two months
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The Finance Ministry says Indonesia recorded lower budget deficit in the first two months of the year compared to the same period last year. (Tempo/-)
I
ndonesia recorded lower budget deficit in the first two months of the year compared to the same period last year as state revenue was higher than spending.
Budget deficit stood at Rp 22 trillion (US$1.64 billion) between Jan. 1 and Feb. 20, or equal to 0.16 percent of the country’s gross domestic product (GDP), Finance Ministry’s data shows.
The same period last year saw budget deficit at Rp 50.6 trillion or 0.41 percent of the GDP.
The budget deficit realization in the first two months of this year was only 6.7 percent of the target in the 2017 state budget, lower than 17.1 percent seen in the same period last year, as reported by kontan.co.id on Monday.
(Read also: Government to maintain budget deficit policy to stoke growth)
The lower deficit was triggered by a 4.81 percent year-on-year (yoy) increase in state revenue to Rp 145.4 trillion as of Feb. 20, while government spending decreased by 10.97 percent to Rp 168.6 trillion in the same period.
The state revenue increase only reached 8.4 percent of this year’s target, but it was higher than 7.8 percent seen in the same period last year.
Meanwhile, government spending realization was 8.1 percent of the 2017 target, lower than the 9.1 percent recorded in the same period of 2016. (bbn)
