Sri Mulyani Reveals The July 2024 State Budget Deficit Of IDR 93.4 Trillion Due To Decreased State Revenue

JAKARTA - The Ministry of Finance (Kemenkeu) noted that the 2024 State Revenue and Expenditure Budget (APBN) has a deficit of IDR 93.4 trillion in July 2024.

Finance Minister Sri Mulyani said the budget deficit as of July 2024 was IDR 93.4 trillion or equivalent to 0.41 percent of Gross Domestic Product (GDP). However, it is different when compared to the State Budget as of June 2024 which experienced a deficit of IDR 77.3 trillion or 0.34 percent of GDP.

"The total posture of the 2024 State Budget in July is a deficit of IDR 93.4 trillion or 0.41 percent of GDP, still far from the total state budget deficit," he said at a press conference on the KiTa State Budget, on Tuesday, August 13.

Overall, Sri Mulyani said that the 2024 APBN was designed at IDR 522.8 trillion or 2.29 percent of GDP. This means that the deficit that occurred in July 2024 is still within the government's projection range.

According to Sri Mulyani, the state budget deficit as of July 2024 was due to declining state revenues, while state spending increased.

Sri Mulyani explained that the realization of state revenue as of July 2024 reached Rp1,545.4 trillion, down 4.3 percent (yoy) compared to the same period last year. This realization is equivalent to 55.1 percent of the 2024 State Budget target of Rp2,802.3 trillion.

Meanwhile, the realization of state spending reached Rp1,638.8 trillion, an increase of 12.2 percent (yoy) compared to the same period last year. This realization is equivalent to 49.3 percent of the 2024 State Budget target of Rp3,325.1 trillion.

Sri Mulyani said that the primary balance still recorded a surplus of IDR 179.3 trillion. Meanwhile, the primary balance in July 2023 was recorded at IDR 394.5 trillion.