The government has set the state revenue target at Rp 1.73 quadrillion (US$132.26 billion) in the 2017 state budget draft, with 86.13 percent of it (Rp 1.49 quadrillion) predicted to come from tax revenues.
he government has set the state revenue target at Rp 1.73 quadrillion (US$132.26 billion) in the 2017 state budget draft, with 86.13 percent of it (Rp 1.49 quadrillion) predicted to come from tax revenues. The projection is lower than the previous projection targeted in the revised 2016 state budget.
Meanwhile, non-tax revenues have increased to Rp 240.4 trillion compared to the Rp 245 trillion listed in the 2016 revised state budget.
In his remarks at the annual meeting of the People’s Consultative Assembly (MPR) in Jakarta on Tuesday, President Joko "Jokowi" Widodo said the government would set expansionary fiscal policies next year to increase production capacity.
"With a variety of agendas and targets, the 2017 fiscal policy is still expansionary, directed at increasing production capacity. The 2017 draft budget deficit is targeted at Rp 332.8 trillion, or 2.41 percent of GDP [gross domestic product]," Jokowi said.
The government’s spending is allocated at Rp 2.07 quadrillion, comprising Rp 1.31 quadrillion in central government expenditure and Rp 760 trillion in regional transfers and village funds.
The budget policy, Jokowi further said, will be aimed at developing the creative and innovative sectors and improving access to finance for small and medium-sized enterprises.
"Moreover, the involvement of private parties in development will be enhanced through cooperation schemes between the government and business entities," he said. (ags)
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