State Budget Overrun By IDR 383.2 Trillion As Of August 2021, Sri Mulyani: Last Year Was Bigger, IDR 503.8 Trillion

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani said that the deficit in the State Budget (APBN) until August 31, 2021, was IDR 383.2 trillion. According to the Minister of Finance, this amount is lower than the same period in 2020 which amounted to IDR 503.8 trillion.

“This is a reflection of the strengthened fiscal consolidation, on the other hand, the economy is also starting to recover. This is what is called a countercyclical, but it continues to run but it is facing out slowly," she said at a virtual press conference on our State Budget, Thursday, September 23.

The Minister of Finance added that the decline in the value of the state budget deficit is proof of hard work in strengthening state finances, and at the same time the economic factors that are starting to recover are reducing the deficit gap.

“This is the story of the economy and the state budget. Rebound, recovery, consolidation go hand in hand, which in state finances are carried out very carefully," she said.

Furthermore, the Minister of Finance hopes that the recovery condition will continue to occur so that the condition of state expenditure and income can be rebalanced.

"We certainly hope that the economy can continue to grow and the state budget will start to get healthier again because the state budget is the main and biggest instrument in dealing with the pandemic situation," he stressed.

For information, as of August 31, 2021, the total state revenue is known to be IDR 1.177.6 trillion. Meanwhile, the expenditure side is said to have reached IDR 1.560.8 trillion. This condition caused a budget deficit of IDR 383.2 trillion.

Just so you know, in the 2021 State Budget Law, the government's spending plan is IDR 2.750 trillion and the revenue sector is IDR 1.743.6 trillion. Thus, the budget deficit for this year is projected to reach IDR 1.006.4 trillion, or approximately 5.7 percent of gross domestic product (GDP).