State Revenues Break 12-year Record by Surpassing 100-percent Target

JAKARTA, KOMPAS.com - Indonesia’s Finance Minister Sri Mulyani Indrawati said the realization of state revenues in 2021 exceeded the 100-percent target for the first time in the past 12 years, State News Antara reported on June 30.

The realization of state revenues in 2021 crossed 2,011.3 trillion Indonesian rupiahs ($135 billion), accounting for 115.35 percent of the target set in the 2021 state budget, she noted during an online plenary meeting with the House of Representatives on Thursday.

Sri Mulyani remarked that the realization of state revenues in 2021 also grew by 22.06 percent as compared to a year earlier.

The 2021 state revenues comprised 1,547.8 trillion Indonesian rupiahs ($103 billion) from taxes, 458.5 trillion Indonesian rupiahs ($32.5 billion) from non-tax state revenues, and five trillion Indonesian rupiahs ($334.5 million) from grants.

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The 2021 tax receipts reached 107.15 percent of the target set in the state budget and returned to the pre-pandemic level of 1,546.1 trillion Indonesian rupiahs ($103 billion) recorded in 2019, she said.

The minister further added that the 2021 state spending had reached 2,786.4 trillion Indonesian rupiahs ($186 billion), or 101.32 percent of the target set in the state budget.

The state spending comprised the central government's spending worth 2,000.7 trillion Indonesian rupiahs ($134 billion) and transfer to regions and village funds amounting to 785.7 trillion Indonesian rupiahs ($52.5 billion).

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With the state revenues reaching 2,011.3 trillion Indonesian rupiahs ($134 billion) and state expenditures crossing 2,786.4 trillion Indonesian rupiahs ($186 billion), the budget deficit reached 775.06 trillion Indonesian rupiahs ($51.8 billion) in 2021.

“The 2021 budget deficit remains under control at a level of 4.57 percent of the GDP (national gross domestic product),” she pointed out.

In addition, the budget deficit is also lower than the target of 5.70 percent set in the 2021 state budget, she said.

Source: State News Antara