Jakarta (ANTARA) – The Ministry of Finance has recorded that the state budget still registered a surplus of 106.1 trillion rupees at the end of July 2022.
With this, the state’s cash surplus ratio reached 0.57 percent of gross domestic product (GDP), head of the ministry’s Fiscal Policy Agency (BKF) Febrio Kacaribu noted while speaking. the Ask BKF online event on Monday.
With the existence of the state budget surplus, the achievement of budget financing contracted by 16% (year-on-year) or was recorded at Rs 196.7 trillion. Due to this, the primary balance turned negative by 23.9%, reaching 316.1 trillion rupees.
The state budget surplus came from state revenue which reached R1,551 trillion which is higher than state expenditure at R1,444.8 trillion.
The realization of state revenue managed to increase by 21.2% compared to the same period last year (year-on-year/year-on-year), while state expenditure increased by 13, 7% (year-on-year).
State revenue last month included tax revenue worth Rs 1,213.5 trillion, an increase of 24.4%, and State non-tax revenue (PNBP) of 337, 1 trillion rupees, an increase of 11.4% (year-on-year).
Additionally, customs and excise revenue amounted to Rs 185.1 trillion, representing a growth of 17.7% (year-on-year).
Meanwhile, government spending, comprising central government spending and the regional and village transfer fund (TKDD), reached R1,1031.2 trillion, an increase of 18.5%, and R413. R600 billion, an increase of 1.7% (year-on-year) respectively.
The achievement of central government spending included departmental or institutional spending which decreased by 11.4% or R513.6 trillion, and non-departmental or institutional spending which increased by 62.3% (year-on-year) , or 517.6 trillion rand.
The increase in non-departmental or institutional expenditure includes grant expenditure which amounted to Rs 116.2 trillion, an increase of 17.5% (year-on-year), as well as compensation for fuel oil and electricity which reached 104.8 trillion rupees, an increase of 512.7% (year-on-year). .
The payment of the subsidy and the indemnity will continue until the end of the year. Therefore, the projection of the state budget deficit will remain at 3.92% of GDP in 2022 or better.
The government will continue to monitor all of this and determine whether it can sustain strong growth in government revenues and ensure better spending efficiency.
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