National Economic Recovery Program Update
STRONG BUDGET PERFORMANCE IN 2022
Fiscal deficit recorded at 2.38% of GDP, faster fiscal consolidation under 3% of GDP in 2023
2021
2022
Account
(IDRtn)
2019
2020
Audited
Growth
(%)
Revised
Budget Budget
Realization
(Preliminary)
% to
Revised
Budget
Growth
(%)
A. Revenue
I. Tax Revenue
1,960.6 1,647.8
2,011.3
22.1
1,846.1 2,266.2
2,626.4
115.9
30.6
1,546.1
1,285.1
1,547.8
20.4
1,510.0 1,784.0
2,034.5
114.0
31.4
1. Tax
1,332.7 1,072.1
1,278.6
19.3
1,265.0 1,485.0
1,716.8
115.6
34.3
2. Custom & Excise
213.5
213.0
269.2
26.4
245.0 299.0
317.8
106.3
18.0
II. Non-Tax Revenue
B. Expenditure
409.0
343.8
458.5
33.4
335.6 481.6
588.3
122.2
28.3
2,309.3 2,595.5
2,786.4
7.4
2,714.2 3,106.4
3,090.8
99.5
I. Central Government
1,496.3 1,833.0
2,000.7
9.1
1,944.5 2,301.6
2,274.5
98.8
10.9
13.7
II. Regional Transfer &
Village Funds
813.0
762.5
785.7
3.0
769.6 804.8
816.2
101.4
3.9
C. Primary Balance
(73.1)
(633.6)
(431.6)
(31.9)
(462.2) (434.4)
(78.0)
18.0
(81.9)
D. Surplus (Deficit)
(348.7) (947.7)
(775.1)
(18.2)
(868.0) (840.2)
(464.3)
55.3
(40.1)
% to GDP
(2.20) (6.14)
(4.57)
(4.85)
(4.50)
(2.38)
E. Financing
402.1
1,193.2
871.7
(27.0)
868.0 840.2
583.5
69.5
(33.1)
Source: Ministry of Finance
The Government revenues booked
at 115.9% from its target grew
significantly at 30.6%, supported by
increased economic activity, the
impact of the implementation of the
tax reform (HPP law), and rising
commodity prices.
The government expenditures is
optimized at 99.5% from its
target, to achieve development
targets as well as to function as a
shock absorber. The government
expenditures are directed towards
the distribution of various social
assistance & subsidies, funding for
national strategic projects, as well
as economic recovery programs,
including Transfers to Regions.
The deficit and Primary Balance
have fallen significantly to pre-
pandemic levels accompanied by
more efficient budget financing.
21View entire presentation