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Jakarta Post
The Jakarta Post
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Jokowi decides not to revise 2018 State Budget

  • News Desk
    News Desk

    The Jakarta Post

Jakarta | Tue, July 10, 2018 | 12:08 pm
Jokowi decides not to revise 2018 State Budget President Joko "Jokowi" Widodo (Antara/Rosa Panggabean)

Finance Minister Sri Mulyani Indrawati said that President Joko “Jokowi” Widodo has decided not to revise the 2018 State Budget, as there was no major deviation between state revenues and expenditures.

She said economic growth in the first semester reached 5.1 percent, while tax revenues had grown 14.9 percent.

“It [growth in tax revenue] is higher than last year’s growth of 6 percent and the growth in 2016, which was 7 percent,” said Sri Mulyani on Monday after a Cabinet meeting at Bogor Palace, West Java, as quoted by tempo.co.

She explained that revenues from value-added tax (PPN) grew 13.6 percent, nearly the same as the previous year's growth, while the PPN grew negatively in 2016.

Meanwhile, the revenue from customs and excise taxes grew 16.7 percent and the revenue from oil and gas income tax grew 9 percent, compared to negative growth of 69 percent in 2017 and 40 percent in 2016, she said.

Sri Mulyani also said non-tax state revenue (PNBP) had recorded 47.9 percent growth, compared to 115 percent the corresponding period in 2017.

“The achievement in state revenue is close to what we had planned [in the state budget],” she said.

She added that in terms of expenditure, ministries and other state institutions had spent about 35 percent of the year's planned spending, compared to 33 percent in the corresponding period, last year.

Meanwhile, the spending for subsidies and debt installments was 43.9 percent, compared to 41 percent the previous year. (bbn)

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