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Budget deficit grows 170.2% as of September

19 October 2020 10:47

JAKARTA. The Ministry of Finance recorded that as of September 2020 the State Budget deficit reached 4.16% of the country's GDP.

The deficit grew 170.2% from Rp 252.41 trillion from January to September 2019. The Rp 678.5 trillion deficit was 65.6% of the end-of-year outlook amounting to Rp 1,039.2 trillion.

State revenue as of September was recorded at Rp 1,159 trillion, 68.2% of the 2020 Budget target of Rp 1,699.9 trillion. The realisation experienced -13.7% growth from Rp 1,342.25 trillion in January-September 2019.

State expenditure was recorded at Rp 1,534.7 trillion, 56% of the 2020 Budget target of Rp 2,739.2 trillion and up 15.5% from Rp 1,594.46 trillion in the same period in 2019.

At the State Budget press conference on Monday (19/10), Finance Minister Sri Mulyani Indrawati said that the budget deficit was due to large government spending to fight the coronavirus (COVID-19) pandemic. (AM/MS)

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