JAKARTA (TheInsiderStories) - Indonesia’s defisit recorded Rp231.8 trillion or around 1.83 percent of gross domestic product (GDP) at the first half (H1) of 2016, said one senior official. In the 2016’s Revised State Budget, the country set the deficit 2.35 percent of GDP or in values Rp 296.72 trillion with assuming total GDP Rp12,626.55 trillion.
Finance Minister Bambang Brodjonegoro explained, in the H1, state revenues is pegged at Rp 625.18 trillion or around 35 percent of this year target Rp1,786.23 trillion. While the total expenditure of about 42 percent of this year target Rp2,082.95 trillion or worth Rp874.84 trillion.
While, Head of the Fiscal Policy Office Suahasil Nazara continued, until June 30, the tax revenue reached Rp458.2 trillion, or 33.8 percent of the 2016’s target Rp1,503.30 trillion. Compared to the same period in 2015, that number fell to 0.07 percent. The realization of tax revenue the first half of last year stood at Rp 458.5 trillion.
The House of Representative has approved the revised budget for 2016 on June together with Tax Amnesty bill. On the revision of 2016’s state budget, the government assumes that through the new bill can collect tax revenues over than Rp100 trillion (US$76.04 billion) by the end of 2016.
DETAIL Of 2016’s REVISED BUDGET :
Total GDP Rp 12,626.55 trillion
Macro Assumption:
GDP 5.2 percent
Inflation 4.0 percent
Benchmark rate 5.5 percent
Exchange rate Rp 13,500/US$1
Oil price $40 a barrel
Oil lifting 820,000 barrels
Gas lifting 1.15 MMBTU
Oil/gas lifting 1,97 million barrels of oil equivalent
Revenues Rp 1,786.23 trillion
Tax revenues of Rp 1,503.30 trillion
Non-tax revenues Rp 245.08 trillion
Grant of Rp 1.97 trillion.
Spending Rp 2,082.95 trillion
Government spending Rp 1,306.69 trillion
Ministry and government institution spending Rp 767.81 billion
Regional transfer and Village fund Rp 773.31 trillion
Fuel buffer and energy security fund of Rp 800 billion
Non-ministry and government institution spending Rp 191.02 trillion
Energy subsidy Rp 188.71 trillion
Deficit 2.35 percent of GDP or in values Rp 296.72 trillion
Domestic financing Rp 296.72 trillion
Foreign financing Rp 299.25 trillion