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State budget deficit at 1.65% of GDP by August
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Finance Minister Sri Mulyani Indrawati (Antara/Wahyu Putro)
I
ndonesia's state budget deficit stood at Rp 224.35 trillion (US$16.9 billion) or 1.65 percent of the gross domestic product (GDP) up to August, Finance Minister Sri Mulyani Indrawati has told House of Representatives Commission XI, which oversees finances.
The figure is lower than the Rp 261.47 trillion or 2.09 percent of GDP recorded in the corresponding period last year.
"We are trying to improve the state budget's performance and gradually increase its credibility," she said on Thursday.
The government in its revised state budget projects a full-year deficit of 2.92 percent, far higher than the initial target of 2.41 percent. However, it is still convinced that it can keep the deficit below 2.67 percent of the GDP through efficiency measures.
Up to August, the government has spent Rp 695.66 trillion, almost 51 percent of its earmarked allocation of Rp 1,367 trillion.
Meanwhile, as much as Rp 502.60 trillion, more than 55 percent of the targeted regional transfers, has been disbursed.
On the revenue side, the government has collected Rp 780.04 trillion in tax revenue, which is 53 percent of the targeted full-year total of Rp 1,472.7 trillion.
"There is quite strong annual growth [on the revenue side], so we are quite optimistic [about achieving the target]," Sri Mulyani said. (bbn)
