JAKARTA. The deficit of the State Budget (APBN) widened to 1.57% of the Gross Domestic Product (GDP) in the first half of 2020 to Rp 257.8 trillion. In the same period in 2018, the deficit only reached Rp 135.1 trillion or 0.85% of GDP.
Finance Minister Sri Mulyani Indrawati said the widening deficit was due to a 9.8% decline in state revenue from Rp 899.6 trillion to Rp 811.2 trillion.
The amount of revenue is equivalent to 47.7% of the target set in 2020 Revised State Budget (APBN-P) (Rp 1,699.9 trillion), while the realization of tax receipt in the first half of 2020 reached Rp 624.9 trillion or 44.5% of the target set in APBN-P (Rp 1,404.5 trillion), said Sri Mulyani during a meeting with the Budget Agency of the House of Representatives on Thursday (9/7).
Even though the deficit widened, it is still within the estimates of Ministry of Finance, which projected growth of negative ten percent.
In terms of state expenditure, the realization reached Rp 1,068.9 trillion or 39% of the target set in APBN-P (Rp 2,739.2 trillion). (AM/AR)