Indonesia Minister of Finance Discloses, APBN Surplus Rp152 T in the First Semester of 2023

Jakarta – The Ministry of Finance (Kemenkeu) reported that the State Budget (APBN) experienced a surplus in the first semester of 2023 of Rp152.3 trillion or 0.71 percent of gross domestic product (GDP).

Minister of Finance, Sri Mulyani said, state revenue as of the first semester of 2023 amounted to Rp1,407.9 trillion or equivalent to 57.2 percent of the total 2023 State Budget target. The value grew 5.4 percent on an annual basis.

“The state budget until the first semester has a surplus of Rp152.3 trillion or 0.71 percentof GDP, this is a much higher surplus than last year which was also a surplus of Rp91.2 trillion. This year’s surplus of 66.9 percent is much higher than the previous year,” Sri Mulyani said in APBN KiTa, Monday, July 24, 2023.

The state’s financial condition managed to print this surplus driven by state revenues that are still growing from tax deposits to non-tax state revenues (PNBP). Noted, state revenue from taxes in the first semester of 2023 reached IDR 970.2 trillion or 56.5 percent of this year’s APBN target, or grew 9.9 percent.

“Meanwhile, customs & excise revenue decreased by -18.8percent or amounted to Rp135.4 trillion, compared to last year which still grew 36.5 percent. And PNBP amounting to Rp302.1 trillion grew 5.5 percent,” she said.

Then, in terms of spending, the minister noted that state spending had been realized at Rp1,255.7 trillion, growing 0.9 percent. The realization consists of central government spending of Rp891.6 trillion. Meanwhile, transfers to regions and village funds (TKDD) were Rp364.1 trillion or contracted by -1.0 percent.

The Minister continued, the primary balance also recorded a surplus of Rp368.2 trillion, much higher than last year’s primary balance of Rp279 trillion, or an increase of 32 percent.

“So the primary balance and APBN surplus illustrate that last year the APBN was good, this year the first semester position is still much better. This is something we need to be grateful for in terms of APBN health and a very strong and credible consolidation trend,” she said. (*)