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2022 budget deficit is projected to be 3.92% of GDP

The budget deficit will be significantly lower than expected at 4.85% of state budget GDP and 4.5% of presidential GDP.

Jakarta (ANTARA)-The budget deficit is expected to reach IDR 732.2 trillion in 2022, or 3.92% of gross domestic product (GDP), Finance Minister Sri Mulyani Indrawati predicts.

“The budget deficit is The state budget GDP is 4.85%, and the presidential GDP is 4.5%, which is much lower than expected. ” ..

Last year, the budget deficit exceeded IDR 775 trillion.

According to the minister, the expected decline in the 2022 budget deficit will make state budgets relatively healthy and strong, following strategies facing instability, especially in the financial sector, due to global inflation and rising interest rates. It shows that it has become.

She added that the budget deficit forecast is based on the projected state spending of IDR 3,169.1 trillion, which is higher than the state’s revenue estimated to reach IDR 2,436.9 trillion.

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Overall, state spending forecasts are very good, with year-on-year growth of 13.7% compared to last year.

This figure consists of IDR 2,370 trillion for central government spending and IDR 799.1 trillion for relocation to endowments in regions and villages, Indrawatti said.

State revenues also increased significantly by 21.2% year-on-year, with tax revenues of IDR 1,924.9 trillion and non-tax revenues of IDR 510.9 trillion, she said.

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https://en.antaranews.com/news/237285/budget-deficit-projected-at-392-of-gdp-in-2022 2022 budget deficit is projected to be 3.92% of GDP

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