Sri Mulyani Reveals State Expenditure Until March 2024 Reaches IDR 611.9 Trillion

Minister of Finance Sri Mulyani. (Photo: Aris Nurjani/VOI)

JAKARTA - The Ministry of Finance noted that the realization of state spending reached IDR 611.9 trillion by the end of March 2024.

This realization reached 18.4 percent of the ceiling, and grew 18 percent from the same period last year.

Minister of Finance Sri Mulyani Indrawati said that this is happening because it is influenced by the implementation of the 2024 general election (election).

"Our country's spending is quite high, growing 18 percent from the previous year. This is mainly front-loading spending because of the large election," said Sri Mulyani at the State Budget Press Conference, Friday, April 26.

Sri Mulyani explained that the realization of state spending consisted of central government spending (BPP) of Rp427.6 trillion. This realization increased 23.1 percent from the same period last year, and reached 17.3 percent from the budget ceiling.

Furthermore, the realization of BPP consists of Ministry/Institutional expenditures (K/L) whose realization reached Rp222.2 trillion or grew 33.1 percent compared to the same period last year, and reached 20.4 percent of the budget ceiling.

Sri Mulyani conveyed that the distribution of K/L expenditures was influenced by the assistance of basic food programs, the distribution of social assistance, and support for the implementation of the General Election.

Meanwhile, the realization of non-K/L spending was IDR 205.4 trillion or 14.9 percent of the budget ceiling. This realization grew 13.9 percent compared to the same period last year.

Sri Mulyani said that this expenditure was influenced, among other things, by the realization of energy subsidies and the payment of pension benefits.

Furthermore, the realization of state spending is also for the distribution of transfers to regions (TKD) whose realization reaches IDR 184.3 trillion or grew 7.6 percent compared to the same period last year. This realization reached 21.5 percent of the budget ceiling.

Sri Mulyani said, in terms of state revenues reached Rp620.01 trillion.

This realization reached 22.1 percent of the 2024 State Budget target.

"There is a 4.1 percent decrease as it is known that the 2022-2023 growth from state revenues is very high. So even though we understand that there will be corrections, we remain careful," he said.

However, Sri Mulyani said the 2024 State Revenue and Expenditure Budget (APBN) still print a surplus of IDR 8.1 trillion until the end of March 2024 or equivalent to 0.04 percent of gross domestic product (GDP).

"The surplus recorded a surplus of IDR 8.1 trillion until the end of March 2024, this is equivalent to 0.04 percent of GDP," he said.