JAKARTA (TheInsiderStories) - The economic growth of Indonesia will ended at 5.0 percent during 2016 from previous target 5.2 percent and a year ago 4.74 percent amid the global pressure and cutting of government spending in second half of 2016, said finance minister in a press conference on Tuesday.
The minister Sri Mulyani Indrawati explained the engine of economic growth comes from housing consumption 5.0 percent, government spending and investment 4.7 percent.
“In general, economic indicators close to the target that we set in the 2017 Revised State Budget,” She said.
Deficit recorded 2.46 percent of total gross domestic products from initial target 2.35 percent or in values Rp 307.7 trillion is covered by budget balance plus government bond issuance. Based on the data, government pocketed budget’s financing surplus Rp2.27 trillion.
During 2016, government has issued securities note Rp407.3 trillion, bank’s loan Rp25.9 trillion and foreign loans (Rp14.6 trillion). Government also has injected capital for state-own enterprises with worth Rp50.48 trillion in 2016.
Sri Mulyani adding the government’s budget will manage more credible in 2017 and the revenues more expansive than last year.
DETAILED OF REALIZATION OF 2016’S REVISED STATE BUDGET
Macro Assumption:
GDP 5.0 vs 5.2 percent
Inflation 3.1% vs 4.0 percent
Benchmark rate 5.7% vs 5.5 percent
Exchange rate Rp 13,307 vs Rp 13,500/US$1
Oil price US$40 vs $40 a barrel
Oil lifting 829,000 barrel820,000 barrels
Gas lifting 1,18 1.15 MMBTU
Revenues Rp 1,551.8 trillion vs Rp 1,786.23 trillion
Tax revenues of Rp 1,283.6 trillion from the targets Rp 1,539.2 trillion
Custom Rp178.7 trillion from initial target Rp184.0 trillion
Non-tax revenues Rp 245.08 trillion
Grant of Rp 1.97 trillion.
Spending Rp 1,855.5 trillion vs Rp 2,082.95 trillion
Government spending Rp 1,195.3 trillion from target Rp 1,306.69 trillion
Ministry and government institution spending Rp 677.6 trillion from target Rp 767.81 billion
Regional transfer and Village Fund Rp710.9 trillion from targets Rp773.31 trillion
Energy subsidy Rp106.8 trillion from target Rp 188.71 trillion