Illustrative photo (Photo: Reuters)

Hanoi VNA) – Indonesia posted a state budget deficit of 259.9 trillion IDR, or 1.76 percent of the national gross domestic product (GDP), in 2018, the lowest in six years, Finance Minister Sri Mulyani Indrawati said.

At a press conference highlighting the development of the state budget 2018 in Jakarta on January 2, the minister said the budget deficit was far below the target of 325.9 trillion IDR, or 2.19 percent of the GDP set in the state budget 2018.

The deficit resulted from state revenues worth 1,942.3 trillion IDR and state spending worth 2,202.2 trillion IDR, she added.

According to the minister, the state revenues comprised 1,521.4 trillion IDR from tax, 407.1 trillion IDR in non-tax state revenues, and grants worth 13.9 trillion IDR.

The state spending covered the central government`s spending worth 1,444.4 trillion IDR and 757.8 trillion IDR in transfer of funds to regions and village funds, she revealed.

2018 was also the first year since 2011 that Indonesia has recorded a surplus in its primary balance, or budget balance before interest payments. The surplus was worth 4.1 trillion IDR (283 million USD).-VNA