This is the result of the last revision."Jakarta (ANTARA News) - The Indonesian government and the Budget Body of the Parliament agreed to revise down the economic targets resulting in a cut in state expenditures and income in the draft state budget for 2016.
The state expenditure was reduced to Rp2,095 trillion from Rp2,121.3 trillion set previously and state income was cut to Rp1,822 trillion from Rp1,848 trillion.
The government and the budget body revised down economic growth target from 5.5 percent to 5.3 percent, rupiah value was reduced 13,900 per dollar and oil price target was set at US$50 per barrel from US$60 per barrel.
"This is the result of the last revision," said Ahmadi Noor Supit, chairman of the budget body after receiving report from Finance Minister Bambang Brodjonegoro.
Bambang said , the central government spending target was cut from Rp1,339 trillion to Rp1,325 trillion and transfer to the regions and rural fund were reduced from Rp782 trillion toRp770.2 trillion.
However, spending by ministries and state agencies rose from Rp780.4 trillion to Rp784.1 trillion.
Meanwhile taxation revenue target was revised down from Rp1,565 trillion to Rp1,546 trillion and non tax state revenues were reduced from Rp280.3 trillion to Rp273.8 trillion.
The deficit in the state budget is projected at Rp273.2 trillion or 2.15 percent of the Gross Domestic Product (GDP).
The deficit woulds be covered with domestic financing Rp272.8 trillion and external financing Rp400 billion.
The target for inflation is set at 4.7 percent, oil lifting at 830,000 barrels per day and gas lifting at 1,155,000 barrels oil equivalent per day.
With the assumptions the government and the budget body estimated that consumption of subsidized diesel oil would reach 16 million kiloliters per day, kerosene consumption at 0.69 million kiloliter per day and consumption of liquefied petroleum gas (LPG) at 6,602 million kilograms per day.
(Uu.H-ASG/F001)
Editor: Priyambodo RH
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