Sri Mulyani Reveals State Budget Deficit Reaches IDR 104.2 Trillion As Of March 2025

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

JAKARTA - The Ministry of Finance (Kemenkeu) noted that the State Revenue and Expenditure Budget (APBN) experienced a deficit of IDR 104.2 trillion in March 2025.

Finance Minister Sri Mulyani said the budget deficit as of March 2025 was IDR 104.2 trillion or 0.43 percent of Gross Domestic Product (GDP).

This realization is equivalent to 16.9 percent of the 2025 State Budget target.

"In a posture manner, the deficit at the end of March, March 31 (2025) was IDR 104.2 trillion, the 2025 State Budget was designed with a deficit of IDR 616.2 trillion. This has been agreed upon with the DPR and becomes a law, so the deficit is IDR 104.2 trillion, which means 16.9 percent of this year's deficit target," he said at the KiTa State Budget press conference, on Wednesday, April 30.

"Rp. 104.2 trillion in this deficit means 0.43 percent of GDP, our APBN is designed with a deficit of Rp. 616.2 trillion, which means 2.53 percent of GDP," he added.

Overall, the 2025 State Budget is designed for a deficit of IDR 616.2 trillion or 2.53 percent of GDP. This means that the deficit that occurred in March 2025 is still within the government's projection range.

Sri Mulyani said that until March 2025, budget financing was reached Rp250.0 trillion or 40.6 percent of the 2025 APBN target of Rp616.2 trillion.

According to Sri Mulyani, the state budget deficit as of March 2025 was due to lower state revenues compared to increasing state spending.

Sri Mulyani explained that the realization of state revenue as of March 2025 reached IDR 516.1 trillion, down 16.75 percent on an annual basis or year on year (yoy) when compared to the same period last year of IDR 620.01 trillion.

This realization is equivalent to 17.2 percent of the 2025 State Budget target of IDR 3,005.1 trillion.

Meanwhile, the realization of state spending as of March 2025 reached Rp620.3 trillion, an increase of 1.37 percent (yoy) compared to the same period last year of Rp611.9 trillion.

This realization is equivalent to 17.1 percent of the 2025 State Budget target of IDR 3,621.3 trillion.

"The position of the State Budget on March 31 in terms of positive primary balance or a surplus of Rp. 17.5 trillion, this position is quite good and we will continue to maintain it in accordance with the 2024 State Budget Law Number 62," he said.

Sri Mulyani said that the primary balance still recorded a surplus in March 2025 of IDR 17.5 trillion or 27.7 percent of the 2025 APBN target of IDR 63.3 trillion.

"The 2025 APBN is designed through Law Number: 62 2024, designed with a primary balance of IDR 63.3 trillion, so if this is still positive, this is a good thing, but if you look at the deficit, don't panic, because the design is a primary deficit of IDR 63.3 trillion and a total deficit of IDR 616.2 trillion," he concluded.