JAKARTA. The Budget Committee of the House of Representatives of Indonesia (DPR RI) agreed to set the deficit for the 2022 State Budget to IDR 868.02 trillion. It is equal to 4.85% of the estimated Gross Domestic Products (GDP) of IDR 17.897 trillion.
Bobby Rizaldi, a member of the committee as well as a representative from Golkar, claimed that this deficit is determined according to the global and domestic economic dynamic. He believed in the need for acceleration in the COVID-19 response and national economic recovery. “It is also to support structural and fiscal reformation,” Rizaldi further proclaimed during the work meeting with the government and Bank Indonesia yesterday (28/9).
In 2021, the state budget deficit was IDR 1,006.38 trillion, equivalent to 5.70% of GDP, but also higher than the 2022 State Budget deficit. Meanwhile, the state budget deficit target is set to be lower than 3% of GDP in 2023.
According to Rizaldi, this deficit amount is decided upon the state revenue target of IDR 1,864.14 trillion. It consists of a tax income target of IDR 1,510.0 trillion, a non-tax income target of IDR 335.55 trillion, and grants of IDR 579.9 billion. On the other hand, the state expenditure budget is set to IDR 2,714.16 trillion, comprising the central government expenditure of IDR 1,943.74 trillion and regional transfer and village funds (TKDD) of IDR 770.41 trillion. (AM/ZH)