State Revenue Reaches Target, 2021 State Budget Deficit Shrinks IDR 222 Trillion

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - Minister of Finance, Sri Mulyani, said that the realization of the budget deficit in the 2021 APBN was IDR783.7 trillion or 4.65 percent of gross domestic product (GDP).

This figure is IDR 222.7 trillion lower than that stipulated in the State Budget Law at IDR 1,006,4 trillion or 5.7 percent of GDP.

“Yesterday we had estimated that this year's budget deficit would be at the level of 5.1 percent to 5.4 percent of GDP, but it turned out to be far from what we estimated. This illustrates that in December the jump was very high and extraordinary", she said at a press conference on the APBN Kita quoted on Tuesday, January 4.

In her explanation, the Minister of Finance revealed that the steady performance of the APBN (State Budget) could not be separated from the state revenue sector, which exceeded the target of 114.9 percent to IDR 2,03.1 trillion from the ceiling of IDR 1,743.6 trillion.

In terms of state spending, the realization until December 31, 2021, was IDR 2,786.8 trillion from the ceiling of IDR 2,750 trillion.

"So this spending is still growing. Therefore, if state revenues cannot catch up, the deficit will increase", she said.

According to the state treasurer, this condition also reduces the budget financing that must be carried out by the government this year to IDR 137.7 trillion.

"This makes us no longer issue bonds (debt securities) since November 2021 for domestic purposes", closed Sri Mulyani.