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Today's Headlines State Budget

  • Indonesia's Subsidized Fuel Price Will Rise to Relieve Government Budget Balance

    This morning (30/04/13), president Susilo Bambang Yudhoyono delivered a speech in which he announced that the price of subsidized fuel will increase to relieve mounting pressures on the government budget deficit. Yudhoyono refrained from mentioning a new price level nor did he announce when the new measure will be implemented. He said that cash compensation programs for the poor need to be prepared first before adjustment of the country's subsidized fuel price can be executed.

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  • Indonesia's Central Bank Expects National Economy to Grow by 6.3-6.8 Percent

    Indonesia's central bank (Bank Indonesia) expects the Indonesian economy to grow between 6.3 and 6.8 percent in 2013, supported by strong domestic consumption and foreign investment, with inflation rising by about 4.5 percent. Indonesian exports are expected to increase due to better global demand for Indonesia's commodities such as coal and palm oil, with commodity prices rising accordingly. But some problems in Indonesia's financial system remain to be solved.

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Latest Columns State Budget

  • Despite Deviations Indonesia Won't Revise the 2018 State Budget

    Despite Deviations Indonesia Won't Revise the 2018 State Budget

    The Indonesian government decided not to revise its 2018 State Budget despite the fact that a couple of assumptions in the budget - such as the rupiah exchange rate or the oil price - differ markedly from the actual (real) level in the first half of 2018. After a meeting at the Presidential Palace in Bogor, Finance Minister Sri Mulyani Indrawati told reporters that President Joko Widodo will not adjust these assumptions due to a number of considerations.

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  • State Budget Indonesia: Realization & Performance in Q1-2018

    State Budget Indonesia: Realization & Performance in Q1-2018

    The Indonesian government expects the nation's gross domestic product (GDP) to have expanded 5.2 percent year-on-year (y/y) in the first quarter of 2018. Indonesian Finance Minister Sri Mulyani Indrawati detects a strengthening domestic economy, supported by improved tax income and improved government spending in Q1-2018.

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  • Looking Back at 2017: Success & Failure of State Budget Targets

    Looking Back at 2017: Success & Failure of State Budget Targets

    Although realization of most components in Indonesia's state budget have improved in 2017, tax revenue realization and the management of energy subsidies remain the two big challenges for the Indonesian government. Southeast Asia's largest economy again failed to meet its tax revenue target last year. Per 31 December 2017 it collected IDR 1,151.5 trillion (approx. USD $85.3 billion) in tax revenue, only 89.74 percent of the target (excluding customs and excise).

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  • Fiscal Update Indonesia: Government Wants to Revise 2016 State Budget

    Fiscal Update Indonesia: Government Wants to Revise 2016 State Budget

    The government of Indonesia proposes to cut the state revenue target by IDR 88 trillion (approx. USD $6.5 billion) in the Revised 2016 State Budget. Indonesian Finance Minister Bambang Brodjonegoro announced the government has sent the proposal to the House of Representatives’ Budget Committee (Banggar) on Thursday (02/06). Expectations of lower government revenue is the result of weaker-than-estimated tax collection, the lower-than-initially-assumed Indonesian crude oil price as well as the lower-than- estimated oil and gas production in Indonesia.

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  • Government Revenue Collection Indonesia at 23% of 2016 Target in Early May

    Government Revenue Collection Indonesia at 23% of 2016 Target in Early May

    So far this year, realization of government revenue in Indonesia (up to 8 May 2016) has reached IDR 419.2 trillion (approx. USD $32 billion), roughly 23 percent of the full-year revenue target in 2016 (IDR 1,822.5 trillion). This result is weaker compared to last year when the government collected IDR 476.3 trillion in the period 1 January - 15 May 2015, or 27 percent of the full-year target. Meanwhile, government spending reached IDR 586.8 trillion between 1 January and 8 May 2016, or 28 percent of the full-year target (IDR 2,095.7 trillion), roughly the same as government spending during the same period last year.

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  • Indonesia in April: State Budget & 7-day Reverse Repurchase Rate

    Indonesia in April: State Budget & 7-day Reverse Repurchase Rate

    If we look back on the month of April, two important matters - related to the economy - occurred in Indonesia this month: (1) in the first week of April, the Indonesian government managed to complete the Revised 2016 State Budget (RAPBN-P 2016), and, one week later, (2) the central bank (Bank Indonesia) announced it will adopt a new benchmark monetary tool per 19 August 2016 - the so-called seven-day reverse repurchase rate - that is to replace the existing BI rate (which fails to influence market liquidity effectively).

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  • Non-Optimal Public Spending on Infrastructure Development in Indonesia

    Non-Optimal Public Spending on Infrastructure Development in Indonesia

    Public spending on infrastructure development in Indonesia is not optimal. Sofyan Djalil, Indonesia's National Development Planning Minister as well as Head of the National Development Planning Agency (Bappenas), says immature and non-integrated planning between ministries and other government agencies as well as between the central and regional governments cause inefficient and non-optimal infrastructure spending. Non-optimal infrastructure development implies that Indonesia's overall economic growth as well as social development cannot achieve its full potential.

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  • What is the Problem with Tax Collection in Indonesia?

    What is the Problem with Tax Collection in Indonesia?

    A tax amnesty bill, which protects corruptors from prosecution and penalties when bringing overseas funds back to Indonesia and fulfill tax obligations, will soon be discussed among Indonesia's government and the House of Representatives (DPR). A tax pardon is expected to result in enhanced tax collection next year. According to the latest data from Indonesia's Finance Ministry's Tax Directorate General, the country only managed to collect IDR 686 trillion (approx. USD $51 billion), or 53 percent of its 2015 tax revenue target, in the period 1 January - 5 October 2015.

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  • Update on Infrastructure Development in Indonesia under Joko Widodo

    Update on Infrastructure Development in Indonesia under Joko Widodo

    The Finance Ministry of Indonesia announced that it plans to inject USD 1.63 billion into state-owned financing company Sarana Multi Infrastruktur and to transform this company into an infrastructure bank in a move to boost infrastructure development across Southeast Asia’s largest economy. The central government needs private capital to fund its massive infrastructure program for the next five years as it can only account for 30 percent of required investment. For the remainder it relies on private capital and state-owned enterprises.

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