Indonesia's first-quarter budget deficit reaches 0.63 percent
Indonesia's budget deficit in the first quarter of this year totalled 102 trillion Rp (nearly 7.3 billion USD), accounting for 0.63 percent of the national gross domestic product (GDP), according to the Indonesian Finance Ministry.
The first-quarter budget deficit rose slightly compared to 0.58 percent of the GDP in the same quarter last year, the ministry said.
Meanwhile, the target of the budget deficit for this year is 1.84 percent of the GDP, it added.
Statistics released by the ministry show that the realisation of state revenues until the end of the first quarter reached 350.1 trillion Rp, up 4.9 percent year-on-year.
The state revenues were mostly fueled by tax receipts which reached nearly 250 trillion Rp, up 1.82 percent.
Meanwhile, customs and excise receipts jumped 73 percent to 30.97 trillion Rp.
However, due to a shortfall in oil and commodity prices in the first quarter of 2019, non-tax state revenues fell 1.47 percent to 70 trillion Rp.
The central government's spending rose 11.4 percent to 260.7 trillion Rp while the transfer of funds to regions and village funds reached 191.33 trillion Rp, up 3 percent.
Social aid rose 106.6 percent to 36 trillion Rp or 38 percent of the ceiling of the social aid set forth in the 2019 state budget at 224.41 trillion Rp.-VNA
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