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Opinion 2 months ago
PREMIUM
Analysis: Government's tax revenue slips, raising fiscal deficit pressures
Indonesia may face a tax revenue shortfall this year, as recent data show the country had realized only 74.62 percent of its annual tax target as of November, underscoring mounting difficulties in sustaining revenue growth amid global and domestic economic headwinds. The World Bank Group (WBG) has projected Indonesia's tax ratio, the share of tax revenue in gross domestic product (GDP), to fall to 9.4 percent in 2025, down from 10.1 percent in 2024. The downward trend is a worrying signal for future state spending, particularly as the government rolls out costly flagship programs that risk widening the fiscal deficit.
Economy 3 months ago
PREMIUM
Revenue slump pushes budget deficit near 3% limit
Finance Minister Purbaya Yudhi Sadewa has acknowledged high pressure on the state budget and said the government’s 2025 deficit target may be missed but vowed that the figure would remain below the legal cap at 3 percent of GDP.
