Bank Indonesia Policy Mix
As of September 2021, State Budget Continues its Good Performance
Revenue and Expenditure signaled that economic recovery continue to take place
2020
2021
Account
(IDR T)
Realized
Budge
t¹
As of
Sep
% of
Budget
YoY (%) Budget
Realized
As of
% of
Budget
YoY (%)
Sep
Revenue
1,700.0 1,160
68.2
(13.6)
1,743.6
1,354.8
77.7
16.8
Tax Revenue
1,198.8 750.6
62.6
(16.9)
1,229.6
850.1
69.1
13.2
Customs & Excise
205.7
141.8
68.9
3.8
215.0
182.9
85.1
29.0
Non Tax Revenue
294.1
261.8
89.0
(13.2)
298.2
320.8
107.6
22.5
Expenditure
2,739.2 1,841.3
67.2
15.5
2,750.0
1,806.8
65.7
(1.9)
Central Government Expenditure
1,975.2 1,211.6
61.3
21.2
1,954.5
1,265.3
64.7
4.4
Regional Transfer & Village Funds
764
629.7
82.4
5.8
795.5
541.5
68.1
(14.0)
Primary Balance
-700.4
(446.5)
63.8
931.6
(633.1)
(198.3)
31.3
(55.6)
Surplus (Deficit)
% to GDP
-1,039.2 (681.4)
(6.34) (4.41)
65.6
169.9
(1,006.4)
(452.0)
44.9
(33.7)
(5.70)
(2.74)
Financing
1,039.2 784.6
75.5
154.9
1,006.4
621.9
61.8
(20.7)
Note
(1) Presidential Regulation 72/2020
Source: Ministry of Finance
Revenue
• As of September 2021, State revenue keeps to perform
strongly with a positive growth of 16.8% and
represents 77.7% from the budget, reconfirming a
strong recovery in economic activity.
• This realization is in line with improving economic
activity and international trade and getting closed to
the pre-pandemic level.
• An increase in Non-tax revenue is supported by receipt
on natural resources and increasing commodity prices.
Expenditures
• Government spending grew by minus 1.9% in
September 2021, lower compared to 2020 due to
smaller social protection spending. However, the level
of spending has normalized, even higher than 2019
level.
• Government spending continuous to support COVID-19
handling and national economic recovery at the central
and regional levels.
Financing
⚫The Budget Deficit and the Primary Balance deficit run
on-track.
• Debt financing was maintained, supported by a
conducive financial market, although market volatility
continued to be monitored.
• Investment Financing proceeds according to
government strategies, in line with the regulatory
preparation process
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