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state-budget-deficit

2024 budget deficit smaller than anticipated
Economy 1 year ago

PREMIUM
2024 budget deficit smaller than anticipated

Last year’s budget closed with a deficit of Rp 507.8 trillion (US$31.34 billion), 2.29 percent of the country’s gross domestic product (GDP), Finance Minister Sri Mulyani Indrawati revealed in a press conference on Monday.
House passes 2025 state budget
Regulations 1 year ago

PREMIUM
House passes 2025 state budget

After being passed into law, the budget plan for 2025 can still be revised by the incoming administration to accommodate its priorities.
2025 budget to focus on purchasing power to prop up growth
Regulations 1 year ago

PREMIUM
2025 budget to focus on purchasing power to prop up growth

The budget plan keeps many spending items unspecified, including for the development of the country’s future capital, leaving the details to the administration of president-elect Prabowo Subianto.
State revenue down 4.3% yoy as of July, but Sri Mulyani sees progress
Regulations 1 year ago

PREMIUM
State revenue down 4.3% yoy as of July, but Sri Mulyani sees progress

The finance minister noted that the situation had improved when compared to the 6.19 percent year-on-year (yoy) decline recorded in the first half of the year.
Excess spending, tax shortfall to drive deficit far beyond budget plan
Economy 1 year ago

PREMIUM
Excess spending, tax shortfall to drive deficit far beyond budget plan

Indonesia’s fiscal deficit is projected to be much larger than planned as the state is set to spend more but collect less in tax than laid out in the budget for this year.
House asks govt to allow for Rp 598t spending increase
Economy 1 year ago

PREMIUM
House asks govt to allow for Rp 598t spending increase

The Finance Ministry has responded by saying that it would review the request, including whether accommodating the extra spending was feasible without widening the projected deficit range of 2.29-2.82 percent of GDP.
State revenue drops 7 percent in May amid spending flurry: Sri Mulyani
Economy 1 year ago

PREMIUM
State revenue drops 7 percent in May amid spending flurry: Sri Mulyani

Indonesia booked its first deficit of the year at 0.1 percent of GDP in May as state revenue fell 7.1 percent amid a flurry of spending that grew 14 percent in May, including on social assistance to mitigate the impacts of El Niño on food prices.
Prabowo team vows fiscal prudence amid World Bank, IMF concerns
Economy 1 year ago

PREMIUM
Prabowo team vows fiscal prudence amid World Bank, IMF concerns

A 2003 law stipulates that Indonesia's fiscal deficit must not exceed 3 percent of GDP in any fiscal year and that the government’s total debt must stay within 60 percent of GDP.
Concern over next govt’s fiscal policy depressing rupiah, BI says
Economy 1 year ago

PREMIUM
Concern over next govt’s fiscal policy depressing rupiah, BI says

Analysts have urged the Finance Ministry and the transition team of president-elect Prabowo Subianto to reduce the pressure on the currency by providing clarity on fiscal policy.
Prabowo's cabinet expansion plan raises budget concerns
Politics 1 year ago

PREMIUM
Prabowo's cabinet expansion plan raises budget concerns

As the House of Representatives moves swiftly to increase the legal limit on the number of executive ministers, analysts have warned that president-elect Prabowo Subianto’s plan to expand his cabinet could get in the way of efforts to fulfill his campaign promises.
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