Indonesia’s 2022 unaudited budget deficit at 2.38% of GDP -Finance Minister

Indonesia recorded a 464.3 trillion rupiah fiscal deficit in 2022, or 2.38 percent of gross domestic product, based on unaudited data, its finance minister Sri Mulyani Indrawati said, much smaller than originally designed. | Reuters

JAKARTA – Indonesia recorded a 464.3 trillion rupiah fiscal deficit in 2022, or 2.38 percent of gross domestic product, based on unaudited data, its finance minister Sri Mulyani Indrawati said on Tuesday, much smaller than originally designed.

The government had initially targeted a budget deficit of 4.85 percent of GDP. Revenue collection, however, got a boost from higher commodity prices and the easing of COVID restrictions last year, prompting the government to revise down the deficit forecast several times.The latest figure was below a forecast on Dec. 21, when President Joko Widodo said he expected a 2.49- percent deficit.

The resource-rich country recorded 2,626.4 trillion rupiah of revenue last year, up 30.6 percent from 2021 and about 16 percent bigger than the target, the minister told an online news conference.

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