Indonesia’s 2020 budget deficit rises to 6.09 percent of GDP

Indonesian Minister of Finance Sri Mulyani Indrawati (Photo: Antara)

Jakarta (VNA) – Indonesia’s budget deficit in 2020 reached 956.3 trillion IDR (68.6 billion USD), equivalent to 6.09 percent of the national gross domestic product (GDP), Minister of Finance Sri Mulyani Indrawati has said.

The 2020 budget deficit was 82.9 trillion IDR lower than the 1.039 quadrillion IDR, or 6.34 percent of the GDP, set by Presidential Regulation No. 72/2020.

The country’s overall state revenue in 2020 reached 1.633 quadrillion IDR, or 96.1 percent of the target set for the revised state budget.

The state spending stood at nearly 2.59 quadrillion IDR in the year, which hit 94.6 percent of the target.

Mulyani said state revenue recorded a year-on-year contraction of 16.7 percent as tax revenue plunged by 19.7 percent to 1.07 quadrillion IDR, or 89.3 percent of the target.

Meanwhile, state revenue from customs and excise duties reached 212.8 trillion IDR, or 103.5 percent of the target. However, the figure showed a decline of 0.3 percent compared the same period of 2019.

Indonesia’s non-tax state revenue stood at 338.5 trillion IDR, or 115.1 percent of the target. On the other hand, state revenue from grants surged by 945.8 percent to 12.3 trillion IDR./.