Finance Minister Sri Mulyani Indrawati Give an Explanation to the Media on the 2019 State Budget at the Parliament Building on Tuesday (04/09) - Photo by Finance Ministry Office
JAKARTA (TheInsiderStories) — Indonesian government called off government bonds and sharia bonds or SUKUK auction for the rest of this year. The auctions cancelled are SUKUK for Nov. 27th and Dec. 11 also bond auctions on Dec. 4th and 18th with potentially amount Rp48 trillion (US$3.26 billion).
Finance Minister Sri Mulyani mentioned, the cancellation taking cause the 2018’s target has achieved and the State Budget’ deficit will be smaller than the previous target at 2.12 percent, to around 1.8 percent – 1.96 percent of Growth Domestic Product (GDP).
Until Oct. 31st, the realization of the bond issuances has reached Rp343.3 trillion or 82.8 percent of this year target’ Rp414.5 trillion. Yet the realization decreased by 16.6 percent compared to the same period last year.
She added, her ministry has collected revenues Rp1,483.9 trillion, grew 20.7 percent from a year ago. At the same time, State expenditure recorded at Rp1,720.8 trillion, increased by 11.9 percent.
Furthermore, the tax revenues worth of Rp1,016.52 trillion, or 71.39 percent this year target. Most of the revenue came from oil and gas income tax, non-oil and gas income tax, value-added tax, and sales tax on luxury goods. The tax revenue during January-October was 17.64 percent higher compared to the same period last year.
Meanwhile, non-tax revenue until October reached Rp315.45 trillion, 114.5 percent way beyond target, contributed from oil and coal commodity price hike. The realization rose 34.5 percent from last year.
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