Jakarta (ANTARA) – Bank Indonesia (BI) Governor Perry Warjiyo has forecast the central bank’s budget to suffer a deficit of Rp19.99 trillion in 2023.
The deficit will likely result from BI’s spending projected to cross Rp161.43 trillion as compared to its revenues estimated at Rp141.43 trillion, Warjiyo stated at a working meeting with the House of Representatives’ (DPR’s) Commission XI here on Monday.
“The main deficit will come from the policy budget that has the potential to suffer a fairly large deficit,” he noted.
The policy budget is projected to record a deficit of Rp33.15 trillion due to the central bank’s huge spending estimated at Rp145.93 trillion as compared to its revenues projected to reach Rp112.77 trillion, he noted.
The huge spending on the policy budget has to do with the efforts to stabilize the rupiah’s exchange rate and the increase in key interest rate, he noted.
Meanwhile, the operational budget is expected to record a surplus of Rp13.16 trillion as a result of the difference between the revenues estimated at Rp28.68 trillion and spending at Rp15.49 trillion.
He said the spending on operational budget contained in the BI Draft Annual Budget (RATBI) 2023 covers the management of foreign currency assets at Rp28.6 trillion, supporting operational activities, at Rp4 billion, and administrative revenues, Rp55 billion.
“There are still revenues from the management of foreign currency assets. Although we still have needs to intervene in the rupiah(‘s exchange rate) from the foreign exchange reserve, the foreign interest rate increases,” he said.
Source: Antara News