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Jakarta Post

Realistic, but tax revenue target quite challenging: Analysts

  • Marchio Irfan Gorbiano

    The Jakarta Post

Jakarta   /   Mon, August 19 2019   /  12:10 am

The 2020 state budget proposal presented by President Joko “Jokowi” Widodo to lawmakers on Friday reflected the government’s optimism in facing global uncertainties, although there are growing challenges in meeting the tax revenue target.State expenditure in the draft of the 2020 budget, which will mark the first budget under Jokowi’s second five-year term, is projected to reach Rp 2.52 quadrillion (US$177.36 billion), consisting of Rp 1.67 quadrillion of central government spending and Rp 858 trillion in transfers to regional administrations, including village funds.State revenue, meanwhile, is projected to reach Rp 2.21 quadrillion, which will comprise Rp 1.86 quadrillion in tax revenue and Rp 359.3 trillion in nontax revenues.Bahana Sekuritas economist Satria Sambijantoro highlighted the increase in central government spending, which rose 9.4 percent from the projected Rp 1.52...