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Revised budget bill ready for approval
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Finance Minister Sri Mulyani Indrawati (right) and Bank Indonesia Governor Agus Martowardojo attend a hearing with the House of Representatives’ budget committee in Jakarta on July 5. (Antara/M Agung Rajasa)
T
he revised 2017 state budget bill has been declared ready for approval on Thursday as the House of Representatives’ budget committee completed deliberating it on Wednesday.
In their meeting that lasted into the night on Wednesday and which was attended by Finance Minister Sri Mulyani, nearly all factions on the budget committee agreed with the figures in the bill and to take it to a House plenary session on Thursday.
Eight of the 10 fractions agreed without any notes, while the Prosperous Justice Party (PKS) made minor notes. The Gerindra Party objected to the increase in budget deficit in the final draft.
Read also: Warning signs in revised 2017 state budget"Let's call it a day. We hope the plenary meeting tomorrow will approve the revised budget," Sri Mulyani said after the meeting at the House complex in Jakarta on Wednesday.
In the bill, economic growth is assumed at 5.2 percent, inflation at 4.3 percent, oil price at US$48 per barrel, oil and gas lifting stayed at 815,000 barrels and 1.15 million barrel oil equivalent, respectively, the rupiah's exchange rate at Rp 13,400 to the US dollar, a three-month treasury bill annual rate of 5.2 percent and budget deficit at 2.92 percent of gross domestic product (GDP).
Other figures in the bill are:
* Total government revenue Rp 1.74 quadrillion
* Total government spending Rp 2.13 quadrillion
* Budget deficit Rp 397.2 trillion
Figures in original budget:
* Total government revenue Rp 1.75 quadrillion
* Total government spending Rp 2.08 quadrillion
* Budget deficit Rp 330.20 trillion (bbn)
