Finance Minister Confirms State Budget Remains Solid, on Track
Minister of Finance Sri Mulyani at Podkabs (Cabinet Secretariat’s Podcast) (Photo by: Public Relations of Cabinet Secretariat/Agung)
In the press conference on the March 2024 edition of the State Budget Performance and Facts, Monday (03/25) at the office of Ministry of Finance, Jakarta, Minister of Finance Sri Mulyani stated that the performance of the state revenue and expenditure budget until March 15, 2024 remained solid.
The State Budget surplus is maintained and the budget’s overall performance is on track.
“The state budget can still proceed quite well, solidly,” the Minister said.
Minister of Finance revealed that as of March 15, 2024, state revenues were recorded to have accumulated to Rp493.2 trillion or 17.6 percent of the target, state expenditure realized amounted to Rp470.3 trillion or 14.1 percent of the ceiling so that the State Budget surplus amounted to Rp22.8 trillion or 0.1 percent of gross domestic product (GDP).
“The State Budget is still experiencing a surplus of Rp22.8 trillion or 0.1 percent of the GDP with the primary balance also having a surplus of Rp132.1 trillion,” she said.
Sri Mulyani added that, amidst the weakening global economy, Indonesia’s economic growth was stable, both in terms of consumption and production, while its domestic financial market conditions were still dynamic.
Indonesia’s manufacturing PMI (Purchasing Managers’ Index) still continues to show improvement, meaning that Indonesia still continues to expand, while its trade balance continues its surplus trend, and the surplus continues into its 46th month.
“This is good because at the world level, commodity prices are weakening. To Indonesia, whose economy is usually on paper very much determined by commodities, the PMI and our economic conditions mean very good resilience,” she stressed. (Public Relations of the Ministry of Finance/UN)
