Sri Mulyani Reveals New Debt Withdrawal Reaches IDR 250 Trillion To Patch The 2025 State Budget Deficit

Minister of Finance Sri Mulyani (Photo; Doc. Antara)

Minister of Finance (Menkeu) Sri Mulyani Indrawati said the government had withdrawn new debts worth Rp250 trillion until March 2025 to cover the deficit in the State Revenue and Expenditure Budget (APBN).

"The realization of on-track budget financing reached Rp250 trillion or 40.6 percent of the APBN target. The realization consisted of debt financing realization of Rp270.4 trillion or 34.8 percent of the 2025 APBN target of Rp775.9 trillion and non-debt financing of minus Rp20.4 trillion," he said at the Press Conference of the Financial System Stability Committee (KSSK), Thursday, April 24.

Sri Mulyani explained that debt financing was fulfilled through SBN (neto) amounting to Rp282.6 trillion and loans (neto) of minus Rp12.3 trillion.

According to him, debt financing is always carried out carefully and measurably by paying attention to the outlook for the State Budget deficit and government liquidity, as well as observing the dynamics of the financial market and maintaining a balance between costs and debt risk.

Meanwhile, the performance of the State Budget in the first quarter of 2025 was well maintained, as reflected in the controlled budget deficit in the safe limit of IDR 104.2 trillion or 0.43 percent of GDP, and only 16.9 percent of the target set in the 2025 State Budget.

Even so, the primary balance was positive at IDR 17.5 trillion, as well as a cash surplus position of IDR 145.8 trillion (SILPA). As well as the performance of State Revenue and Grants until March 2025 reached IDR 516.1 trillion or 17.2 percent of the APBN target, while State Expenditures reached IDR 620.3 trillion or 17.1 percent of the APBN ceiling with a strong trend in March 2025.

Sri Mulyani explained that tax revenues reached Rp400.1 trillion or 16.1 percent of the APBN target, there was a reversal trend of being positive, especially tax revenues which increased significantly in March 2025 amounting to Rp134.8 trillion, rebounding compared to February 2025 amounting to Rp98.9 trillion.

Meanwhile, the revenue in March 2025 reached 41.8 percent of the total realization of the accumulated tax revenue in the first quarter of 2025 of IDR 322.6 trillion.

"This increase in tax revenues is supported by various tax reform programs for improvements in tax administration and the implementation of beliax. The increase shows that tax revenue improvement programs are running on track," he said.

He hopes that in the future the implementation of tax withdrawals will be more efficient and tax revenues are predicted to grow more optimally.

Sri Mulyani explained that the increase in tax revenues according to types of taxes, households and the economic sector shows that the economy and consumer purchasing power in general are still strong.

Meanwhile, the realization of state spending in the first quarter of 2025 reached IDR 620.3 trillion or 17.1 percent of the APBN ceiling,

Sri Mulyani detailed that in February 2025 it would be IDR 348.1 trillion and in March 2025 it would be IDR 272.2 trillion.

"This shows that the role of the APBN as a shock absorber can function optimally to reduce economic turmoil, maintain economic stabilization, and maintain people's purchasing power through THR payments, subsidies (BBM, LPG, electricity discounts, fertilizers), and Perlinsos (a.l. PKH, Basic Food, PIP, JKN)," he added.

Sri Mulyani said that the realization was driven by Central Government Expenditures which reached Rp413.2 trillion or 15.3 percent of the APBN and Transfer Targets to Regions which reached Rp207.1 trillion or 22.5 percent of the APBN target.