Indonesia’s budget revenue nears 70 bln USD in eight months

Illustrative image (Photo: Internet)

Hanoi (VNA) – The Indonesian Finance Ministry has said the State revenue till August this year reached 1.028 quadrillion rupiahs (some 69.5 billion USD), or 60.2 percent of the amended state budget that amounted to nearly 1.7 quadrillion rupiah.

The amount was lower than 1.189 quadrillion rupiahs in the same period last year, or 54.9 percent of the target in 2019 state budget which totaled 2.165.1 quadrillion rupiahs said Vice Minister of Finance Suahasil Nazara.

He added that the debt ratio till the end of August 2020 reached 34.53 percent of the gross domestic product (GDP).

The debt ratio was up among others due to the increase in the issuance of state securities and the widening state deficit in an effort to contain the COVID-19 pandemic.

The State deficit was predicted to touch 6.34 percent of the GDP until the end of 2020, or 1.039 quadrillion rupiahs./.