2022 State Budget: Fiscal Policy and Structural Reform
2022 STATE BUDGET: FISCAL POLICY TO SUPPORT THE ECONOMIC RECOVERY AND
STRUCTURAL REFORM
2020
2021
2022
5.0
5.1
5.2
5.0
4.0
Account
(IDR T)
Audited
Growth (%)
State Budget Growth* (%)
Growth**
Budget
(%)
State Revenue*
1,647.8
(16.0)
1,743.6
5.8
1,846.1
5.6
Tax Revenue
1,285.1
(16.9)
1,444.5
12.4
1,510.0
4.3
-1.82
Non-Tax Revenue
343.8
(15.9)
298.2
-13.3
335.6
11.1
-2.51
-2.2
о
State Expenditure
2,595.5
12.4
2,750.0
5.6
2,714.2
(1.3)
O
(269.4)
(341.0)
(348.7)
-2.1
-6.1
(4.85)
(5.70)
Central Government
Expenditure
1,833.0
22.5
1,954.5
6.63
1,944.5
(0.5)
O
Regional Transfer &
762.5
Deficit (IDR Triliun)
Village Funds
(6.2)
795.5
4.33
769.6
(3.4)
Economic Growth (%)
Primary Balance
(633.6)
(868.0)
--Deficit to GDP (%)
(947.7)
(1,006.4)
Surplus (Deficit)
(947.7)
171.8
766.8 (633.1)
(1,006.4)
(0.1)
(462.2)
(37.0)
6.2
(868.0)
(15.9)
2017
2018
2019
2020
2021
2022
% to GDP
outloo
APBN
Financing
(6.14)
1,193.3
196.8
(5.70)
1,006.4
(4.85)
(15.7)
868.0
(15.9)
k
In 2023 fiscal deficit at <3% of GDP according to
the mandate of Law 2/2020.
MACROECONOMIC
ASSUMPTIONS
In 2022, the deficit is maintained at around 4.85%
Economic
Growth
Inflation
Exchange
Rate
10-year
T-Bonds Rate
of GDP to give smooth trajectory for fiscal
consolidation process.
ICP
(USD/barrel)
Oil Lifting
('000 barrels
Gas Lifting
('000 barrels oil
5.2%
3%
14,350
6.80%
63
per day)
703
equivalent per day)
1,036
*growth 2021 State Budget to 2020 Audited
**growth 2022 State Budget to 2021 State Budget
68
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