Jakarta (ANTARA) - Indonesia's state budget deficit stood at 1.47 percent of gross domestic product (GDP), or Rp379.3 trillion (US$20.8 billion), as of end-October, remaining on track, Finance Minister Suahasil Nazara said on Friday.
“This is a good result, considering that both state revenue and state expenditure are on track for the implementation of the 10-month state budget,” Nazara said at a press conference at the Finance Ministry's office in Jakarta on Friday.
State revenue reached Rp2,618 trillion (US$143.6 billion), growing 23.9 percent year on year (yoy), equivalent to 83 percent of the state budget target.
Tax revenue grew 20.8 percent yoy to Rp2,064 trillion (US$113.2 billion), comprising Rp1,796.8 trillion (US$98.5 billion) in tax receipts and Rp267.2 trillion (US$14.6 billion) in customs and excise revenue. The combined figure represented 76.6 percent of the state budget target.
Non-tax state revenue (PNBP) stood at Rp551.8 trillion (US$30.3 billion), growing 37 percent yoy, or reaching 120.2 percent of the state budget target.
On the expenditure side, state spending reached Rp2,997.2 trillion (US$164.4 billion), growing 15.6 percent yoy, equivalent to 78 percent of the state budget target.
Central government spending amounted to Rp2,343.6 trillion (US$128.6 billion), comprising Rp1,239.1 trillion in spending by ministries and government agencies, and Rp1,104.5 trillion in non-ministry and agency spending.
Transfers to regional governments amounted to Rp653.6 trillion (US$35.86 billion). Central government spending realization stood at 74.4 percent of the annual budget allocation.
With these fiscal developments, the primary balance recorded a surplus of Rp114.8 trillion (US$6.3 billion), compared with the budget's initially projected deficit of Rp89.7 trillion (US$4.9 billion).