State Budget Deficit of Rp104.2 Trillion in First Three Months of 2025

Jakarta – Finance Minister Sri Mulyani Indrawati noted that the State Budget (APBN) experienced a deficit of Rp104.2 trillion or 0.43 of Gross Domestic Product (GDP) in the first three months of 2025.

The figure is equivalent to 16.9 percent of the 2025 State Budget deficit target of Rp616.2 trillion or 2.53 percent of GDP.

“We will continue to maintain the state budget and especially our debt and deficit in a prudent, transparent, careful manner,” Sri Mulyani said at an Economic Workshop with the President of the Republic of Indonesia, quoted on Wednesday, April 9, 2025.

Sri Mulyani emphasized that the 2025 State Budget has been designed in such a way as to finance President Prabowo Subianto’s priority programs.

“So don’t worry, the state budget will not collapse. Many people say is the state budget broken? No, it won’t. The President’s programs are within the existing APBN space,” he said.

The deficit from the state budget in March 2025 was observed to be caused by lower state revenue compared to state spending. Where the realization of state spending amounted to Rp620.3 trillion. Meanwhile, state revenue only reached IDR 516.1 trillion. This means that there is a large gap.

State revenues consist of tax revenues worth Rp322.6 trillion or 14.7 percent of the 2025 State Budget target and revenues from customs and excise worth Rp77.5 trillion or 25.7 percent of the target. Then, non-tax state revenue (PNBP) has reached Rp115.9 trillion or 22.6 percent of the APBN target.

Meanwhile, state spending consisting of central government spending amounted to Rp413.2 trillion, including ministries / agencies (K / L) spending worth 196.1 trillion and non-K / L spending of Rp217.1 trillion.

Furthermore, state spending for transfers to regions (TKD) was channeled at IDR207.1 trillion or 22.5 percent of the 2025 APBN target.

Thus, to close the gap, the government withdrew new debt reaching Rp250 trillion until March 2025 or 40.6 percent of the target of Rp616.2 trillion.

Although the state budget has been in deficit since the beginning of the year, the primary balance still recorded a surplus of Rp17.5 trillion. (*)