Nine Months 2021 State Budget Overruns Rp452 Trillion, Sri Mulyani: Last Year Deficit Rp681 Trillion, Consolidation Goes Well

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani said that the state budget deficit until the third quarter of 2021 was IDR 452 trillion.

This figure was formed due to the lower state revenue sector with Rp1,354.8 trillion compared to the expenditure side of Rp1,806.8 trillion.

However, the Minister of Finance said that this achievement was better than the third quarter 2020 book, which recorded a deficit of IDR 681.4 trillion.

“The current deficit is down 33.7 percent from last year. This illustrates that fiscal consolidation is going well and the economic recovery is in line with what we hope for,” he said at a virtual press conference on our State Budget, Monday, October 25.

In his presentation, the Minister of Finance said that the improvement in the budget deficit could not be separated from tax revenues which grew 15.7 percent year-on-year to Rp 1,033 trillion.

Likewise, the Non-Tax State Revenue (PNBP) which has reached the target of 107.6 percent to Rp320.8 trillion from the 2021 ceiling of Rp298.2 trillion.

"The deficit in the third quarter of 2021 is around 2.74 percent of our GDP (gross domestic product) this year, which is better than last year's 4.41 percent of GDP," he continued.

"What we have achieved is a positive thing with a decrease in nominal and percentage terms," concluded the Minister of Finance Sri Mulyani.