JAKARTA. The Ministry of Finance recorded that the 2019 State Budget realisation posted a Rp 353 trillion deficit or 2.20% of the GDP.
The deficit is higher compared to 2018's deficit of Rp 279.7 trillion or 1.89% of the GDP.
"The [deficit] realisation is higher than the initial target of Rp 296 trillion or 1.84% of the GDP to 2.2%," said Finance Minister Sri Mulyani Indrawati at the Ministry of Finance, Tuesday (7/1).
According to Ms Indrawati, the deficit was caused by lower state revenue compared to state expenditure, with the revenue affected by weakening global economy.
State revenue in 2019 was recorded at Rp 1,957.2 trillion, 90.4% of the set target of Rp 2,165.1 trillion, while state expenditure reached Rp 2,310.2 trillion or 93.9% of the 2019 Budget ceiling of Rp 2,461.1 trillion. (AM/MS)