The Indonesian Government has projected that state spending will reach Rp2,795.9 trillion to Rp2,993.4 trillion in 2023, accounting for 13.80–14.60 percent of the national gross domestic product (GDP).
The budget spending has been determined by taking several factors into account, including an increase in energy subsidies due to a hike in the crude price, which is projected to reach US$80–US$100 per barrel by 2023, Finance Minister Sri Mulyani Indrawati said during a meeting with the House Budget Committee in the parliament building on Tuesday.
The state spending will comprise central government spending of Rp 1,995.7 trillion–Rp2,161.1 trillion, or 9.85–10.54 percent of the GDP, and transfer to regions and village funds (TKDD) of Rp800.2 trillion–Rp832.4 trillion, or 3.95–4.06 percent of the GDP.
The budget spending has been set aside in the state budget for various types of spending, including health care, social protection, education, and infrastructure.
Meanwhile, state revenues are projected to reach Rp2,266.7 trillion to Rp 2,398.8 trillion, or 11.19 percent to 11.70 percent of the GDP.
State revenues from taxes will likely fall in the range of Rp1,884.6 trillion to Rp1,967.4 trillion, or 9.30–9.59 percent of the GDP.
Non-tax state revenues are expected to reach Rp380.1 trillion to Rp427.3 trillion, or 1.88 percent to 2.08 percent of the GDP.
Source: Antara News