State Budget Still Surplus, Budget Financing Drops Sharply

Illustration (Photo: Doc. Ministry of Finance)

The Ministry of Finance (Kemenkeu) informed that budget financing has decreased very sharply, supported by the state revenue sector which is still showing a positive aggregate.

Minister of Finance (Menkeu) Sri Mulyani said that the realization of the State Budget until the end of August 2023 still recorded a surplus of IDR 147.2 trillion. The slick book also boosted the primary balance in a surplus position of IDR 422.1 trillion.

It is stated that this is reflected in the realization of state revenue which has reached Rp1,821.9 trillion or 74 percent of the 2023 State Budget target. Meanwhile, state spending reached Rp1,674.7 trillion or 54.7 percent of the ceiling.

"Because our revenue is still quite good, even though the growth trend has begun to weaken, the spending is still in line with the target. We see that budget financing has decreased very sharply. Our debt financing has decreased by 40 percent," he said in a statement in a written statement after the mid-week State Budget.

The Minister of Finance explained that financing through debt is still on track and anticipatory, and is managed in a measured manner by considering the dynamics of global financial market conditions. Financing is also directed at prudent, efficient, and accountable debt management.

As of August 2023, the realization of financing through debt is recorded at only Rp. 198 trillion or 28.4 percent of the 2023 APBN target, a sharp decline compared to last year's Rp. 332 trillion. The realization consists of SBN Neto of Rp. 183 trillion and net loans of Rp. 15 trillion.

The Minister of Finance revealed that the State Budget has continued to increase its strength, independence, and health, so that at a time when the world is experiencing such a rapid change with sudden high inflation with a drastic increase in interest rates.

APBN menjaga masyarakat dan menjaga perekonomian. APBN yang kuat bisa melaksanakan tugas untuk stabilisasi untuk mendorong alokasi efisien dan juga untuk memperbaiki distribusi. Ini adalah sebuah prestasi yang sangat baik, tutup Menkeu Sri Mulyani.