State Expenditure Soars 11.3 Percent In Semester I 2024

Minister of Finance Sri Mulyani Indrawati. (Photo: Doc. Antara)

Minister of Finance Sri Mulyani Indrawati conveyed that the realization of state spending until the first semester of 2024 reached Rp1,398 trillion, an increase of 11.3 percent on an annual basis or year on year (yoy).

Sri Mulyani conveyed that the increase in state spending was due to the role of the state budget as a shock absorber to anticipate global turmoil, protecting people's purchasing power which experienced corrections throughout the first semester of 2024.

"The increase in state spending is mainly related to the role of the state budget as a shock absorber to anticipate global turmoil, protect people's purchasing power, and continue to support various priorities of the national development agenda," said Sri Mulyani at the Working Meeting of the Budget Agency (Banggar) DPR RI, Monday, July 8.

In terms of components, Central Government Expenditures (BPP) reached Rp997.9 trillion or grew 11.9 percent (yoy), including spending which provided direct benefits for the community of Rp762.1 trillion or 76.4 percent of BPP.

For example, the PKH program amounted to Rp. 14.2 trillion, basic food cards Rp. 22.2 trillion, Indonesia Smart programs Rp. 8.1 trillion, KIP lectures Rp. 6.8 trillion, School Operational Assistance (BOS) Rp. 5.6 trillion and PTN BO Rp. 2.6 trillion.

Then subsidies and compensations Rp155.7 trillion, LPG 3 Kg subsidies Rp34.2 trillion, PBI JKN Rp 23.2 trillion, and infrastructure development and rehabilitation of Rp75.2 trillion.

Transfers to regions until the first semester of 2024 reached IDR 400.1 trillion or equivalent to 46.7 percent of the 2024 APBN target of IDR 857.7 trillion.

This figure increased 9.9 percent compared to the same period last year.

Meanwhile, state revenues reached IDR 1.320 trillion in the first semester of 2024, down 6.2 percent compared to the same period last year.

Tax revenues reached Rp1,028 trillion. This figure is down 7 percent on an annual basis.

Meanwhile, non-tax state revenues (PNBP) reached IDR 288.4 trillion, down 4.5 percent on an annual basis.