More Balance For The 2023 State Budget Reaches IDR 459.5 Trillion, Used IDR 35 T

Illustration (Photo: Doc Antara)

JAKARTA - Finance Minister Sri Mulyani revealed that the More Budget Balance (SAL) in 2023 was IDR 459.5 trillion, a decrease compared to the previous year's IDR 478.9 trillion.

Sri Mulyani explained that the use of SAL in early 2023 which was recorded at IDR 478.9 trillion had been used as a source of funding for the State Revenue and Expenditure Budget (APBN) for Fiscal Year 2023 amounting to IDR 35 trillion.

"In the Budget Balance Change Report (SAL), it is explained that SAL was early 2023, IDR 478.9 trillion. There is the use of SAL as a source of funding for the 2023 State Budget of IDR 35.0 trillion," he said at the Submission of the Principles of Government Information on the Bill on Accountability for the Implementation of the State Budget for Fiscal Year 2023 at the 20th Plenary Meeting, Thursday, July 4.

According to Sri Mulyani, after taking into account the Remaining Budget Financing (SiLPA) and SAL adjustments, the final SAL 2023 will be IDR 459.5 trillion.

Sri Mulyani said that the SAL became an important instrument in managing the APBN as a fiscal buffer or safety pad that effectively protects the Indonesian state budget and economy in the face of various shocks, pressures, and uncertainties in the global and domestic environment in 2024.

In addition, Sri Mulyani conveyed the realization of financing in 2023 of Rp356.7 trillion or only 74.32 percent of the plan in the APBN which amounted to Rp479.9 trillion.

The realization of this financing decreased by IDR 234.3 trillion or 39.65 percent compared to the realization of Financing 2022.

According to Sri Mulyani, the steps to reduce deficits and financing are very significant, strengthen fiscal positions, and the value of Government Securities, so that the yield of debt interest rates can be suppressed and spreads to United States interest rates can be maintained/minimized, amid a remarkable global interest rate spike (high for longer).

Sri Mulyani said, with the deficit and realization of the financing, there was a SiLPA of Rp. 19.4 trillion, or a significant decrease when compared to the 2022 SILPA of Rp. 130.6 trillion.

"The decline in SILPA shows the government's commitment to following up on the DPR's recommendations so that the implementation of the APBN becomes more effective and efficient so as to produce a minimum SILPA amount," he said.