Indonesia's Budget Deficit Stands at 1.95% of GDP in November 2018

Desi Angriani    •    06 Desember 2018 19:00 WIB
economic growth (en)
Indonesia's Budget Deficit Stands at 1.95% of GDP in November 2018
Illustration (Photo:Medcom/M Rizal)

Jakarta: Finance Minister Sri Mulyani Indrawati on Thursday said that the budget deficit stood at 1.95 percent of gross domestic product (GDP) in November 2018.

"It is out lowest position in the past four years," the former World Bank managing director said.

The state revenue is expected to reach Rp1,936 trillion by the end of the year. The number is Rp42 trillion higher compared to the initial target.

"The state revenue would grow 19.2 percent. The tax revenue would grow 15.2 percent," the former World Bank managing director told reporters on Wednesday.

"The customs and excise revenue would grow 14.7 percent. The non-tax state revenue would grow 28.4 percent," she said.

According to the Central Statistics Agency (BPS), Indonesian economy grew by 5.17 percent year-on-year in the third quarter of 2018. Cumulatively, the economy also grew by 5.17 percent in the first three quarters of 2018. 

"We have predicted that our budget deficit would only reach around 1.86 percent this year," she said.


(WAH)