Revenue target set at Rp1,878.4 trillion: President

Jakarta (ANTARA News) -The government on Wednesday unveiled the 2018 Draft State Budget with a revenue of Rp1,878.4 trillion, state expenditure of Rp2,204.4 trillion, and a budget deficit of approximately Rp325.9 trillion, equivalent to 2.19 percent of the Gross Domestic Product (GDP).

President Joko Widodo (Jokowi), while delivering his address on the 2018 Draft State Budget in front of the Plenary Session of the House of Representatives (DPR), stated that the total revenue of Rp1,878.4 trillion consisted of tax revenues valued at Rp1,609.4 trillion and non-tax state revenues at Rp267.9 trillion.

“The government will take utmost efforts to achieve the revenue target with various improvement steps and the use of various national economic potentials, while continuing to maintain investment climate and business stability,” the president noted.

The state expenditure is set at Rp2,204.4 trillion, consisting of Central Government Expenditures amounting to Rp1,443.3 trillion and Funds Transfer to Regions and Villages amounting to Rp761.1 trillion.

He remarked that the deficit in the 2018 draft state budget is smaller than its 2017 outlook of Rp362.9 trillion, or 2.67 percent of the GDP.

To cover the deficit, the government will utilize foreign and domestic funding sources in the form of debts, which will be managed in a prudential manner.

Source: Antara News