Higher Income Than State Expenditures, State Budget Realization As Of End Of July 2022 Surplus Rp106.1 Trillion

Head of the Fiscal Policy Agency of the Ministry of Finance Febrio Kacaribu. (Photo: Doc. Antara)

JAKARTA - The Ministry of Finance (Kemenkeu) noted that the realization of the State Revenue and Expenditure Budget (APBN) still showed a surplus at the end of July 2022. The value was IDR 106.1 trillion.

Thus, the state cash surplus ratio reached 0.57 percent of gross domestic product (GDP).

"Due to the high growth in state income, our State Budget still faces a surplus until the end of July, not a deficit," said Head of the Fiscal Policy Agency of the Ministry of Finance Febrio Kacaribu in an online BKF Question event, quoted by Antara, Monday, August 8.

The state budget surplus was obtained from state revenues of Rp1,551 trillion, which was higher than state expenditures of Rp1,444.8 trillion.

He said that the realization of state revenues managed to grow 21.2 percent compared to the same period the previous year (year-on-year/yoy), while state spending rose 13.7 percent (yoy).

Last month's state revenues included tax revenues worth Rp1,213.5 trillion, or grew 24.4 percent and non-tax state revenues (PNBP) of Rp337.1 trillion, an increase of 11.4 percent (yoy).

Furthermore, tax revenue was obtained from tax revenues which managed to increase by 25.8 percent (yoy) to Rp. 1.028.5 trillion and customs and excise revenues of Rp. 185.1 trillion, or an increase of 17.7 percent (yoy).

Meanwhile, Febrio said that state spending includes central government spending of Rp. 1,031.2 trillion or an 18.5 percent growth (yoy) and transfers to regions and village funds (TKDD) of Rp. 413.6 trillion, an increase of 1.7 percent (yoy). ).

The realization of central government spending consisted of ministry/institutional (k/l) expenditures of Rp513.6 trillion, a decrease of 11.4 percent (yoy) and non-k/l expenditures of Rp517.6 trillion, or a significant growth of 62.3 percent (yoy). .

The increase in non-k/l expenditures included, among others, subsidy expenditures worth Rp. 116.2 trillion or grew by 17.5 percent (yoy) as well as compensation for fuel oil (BBM) and electricity which had been disbursed by Rp. 104.8 trillion, or an increase of 512.7 percent. (yoy).

He revealed that the payment of subsidies and compensation will continue until the end of the year so that the projected state budget deficit will remain at 3.92 percent of GDP in 2022 or better.

"We will continue to monitor all of this, whether we can maintain strong state revenues and make sure our spending is as efficient as possible by spending better," he said.

With the APBN surplus, he conveyed that the realization of budget financing contracted 16 percent (yoy) or was recorded at Rp. 196.7 trillion, as well as the primary balance grew negative 23.9 percent to reach Rp. 316.1 trillion.