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Bank Indonesia records Rp 34.94t budget surplus per Q3
Bank Indonesia reported an annual budget surplus of Rp34.94 trillion as of Q3, with the governor anticipating a year-end surplus of Rp27.19 trillion.
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Bank Indonesia's logo is seen at its headquarters in Jakarta on Jan. 17, 2019. (Reuters/Willy Kurniawan)
B
ank Indonesia (BI) reported an annual budget (ATBI) surplus of Rp 34.94 trillion (U$2.24 billion) as of Q3 2023, with BI Governor Perry Warjiyo anticipating a year-end surplus of Rp 27.19 trillion.
During the BI Annual Budget Plan meeting with House of Representatives Commission XI on Monday, Perry explained that the surplus resulted from total revenue exceeding total expenditure, with revenue at Rp 136.9 trillion and expenditure at Rp 101.96 trillion.
"This prognosis surpasses the initial plan for ATBI 2023, which forecast a deficit of Rp 19 trillion [$1.2 billion]," Perry said.
According to Perry, the surge in revenue was primarily driven by effective securities management, including government bonds (SBN), and the realization of the policy mix, encompassing the payment of current account services to the government and monetary operational expenses.
In Q3, the operational budget recorded a surplus higher than the planned Rp 11.63 trillion, reaching Rp 28.37 trillion. The operational surplus revenue was recorded at Rp 37.93 trillion, with expenditure reaching Rp 9.56 trillion.
"The operational budget's higher than forecast surplus was influenced by increased revenue from managing foreign exchange reserves, supported by the implementation of foreign exchange reserve reform and the impact of global interest rates rising higher than the initial assumption," Perry said.
The projected operational budget surplus by the end of 2023 is Rp 23.98 trillion, comprising projected revenue of Rp 40.94 trillion and expenditure of Rp 16.95 trillion.
