The Tokcer State Budget, Government Was Debt-Taxed IDR 255.2 Trillion Throughout 2022

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - The government through the Ministry of Finance reports that the realization of debt financing in the 2022 State Budget is IDR 668.5 trillion.

Minister of Finance (Menkeu) Sri Mulyani said the figure was lower by IDR 255.2 trillion from the ceiling set at IDR 943.7 trillion in accordance with Presidential Decree 98/2022.

"This result makes us do not need to issue debt securities as big as planned," he said when giving an explanation to the media crew on Tuesday, January 3.

The Minister of Finance explained that debt financing in 2022 fell by 20.9 percent compared to 2021, which at that time was IDR 807.5 trillion.

Furthermore, the Minister of Finance detailed that the realization of this year's debt financing consisted of the issuance of state securities (netto) of IDR 658.8 trillion and loans (netto) of IDR 29.7 trillion.

"The utilization of debt financing is intended to cover the deficit, finance government investment in BUMN and the Public Service Agency (BLU) in order to accelerate infrastructure development and support improving the quality of human resources," he stressed.

The reduction in debt withdrawals so far this year cannot be separated from the steady performance of the 2022 State Budget. VOI noted that last year's state revenue had succeeded in exceeding the target of 115.9 percent to Rp2,626.4 trillion.

For this score, the 2022 State Budget deficit then reduced to IDR 464.3 trillion or equivalent to 2.38 percent of gross domestic product (GDP) from the initial plan of IDR 840.2 trillion or 4.5 percent of GDP.