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2024 state revenue likely to miss target, says Sri Mulyani

The government had aimed to collect as much as Rp 2.8 quadrillion (US$172.7 billion) in state revenue last year. As of November, collection amounted to Rp 2.49 quadrillion, 89 percent of the goal.

Deni Ghifari (The Jakarta Post)
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Jakarta
Sat, January 4, 2025

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2024 state revenue likely to miss target, says Sri Mulyani Finance Minister Sri Mulyani Indrawati waits for her car at the House of Representatives complex in Jakarta on July 8, 2024. (TJP/Deni Ghifari)

T

he collection of state revenue for 2024 is expected to miss the target previously set in the state budget, Finance Minister Sri Mulyani Indrawati has said.

Speaking on the first trading day of 2025 at the Indonesia Stock Exchange (IDX), the minister attributed the weak revenue to economic pressure in the first half of 2024, but gave an assurance that growth had been back on track in the second half.

“[The revenue] is decent enough for the situation,” said Sri Mulyani, adding: “Although the target wasn’t reached because the 2024 target was set rather high”.

She did not divulge details as to the amount of revenue the government managed to secure as the year closed, nor the size of the shortfall.

A full announcement about last year’s budget realization is expected to be made on Monday.

Read also: Govt walks back sweeping VAT hike on last day of the year

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The government had aimed to collect as much as Rp 2.8 quadrillion (US$172.7 billion) in state revenue last year. As of November, collection amounted to Rp 2.49 quadrillion, 89 percent of the goal.

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