Friday, 24th October 2014

Deficit of 2013 draft state budget set at 1.6 pct

Kamis, 16 Agustus 2012 22:07 WIB | 835 Views
Jakarta (ANTARA News) - The government has set a deficit of Rp150.2 trillion in the 2013 Draft State Budget, or 1.6 percent of the Gross Domestic Product (GP), down by 2.23 percent of the deficit in the 2012 Revised State Budget.

President Susilo Bambang Yudhoyono made the remarks when delivering the government`s financial notes and the 2013 Draft State Budget in a plenary of the House of Representatives (DPR) here on Thursday.

The deficit is the difference between the total revenues in the 2013 Draft State Budget amounting to Rp1,507.7 trillion --up by 11 percent from the revenue target in the revised 2012 budget-- and state expenditures amounting to Rp1,657.9 trillion, which increased by 7.1 percent of the expenditure ceiling in the 2012 revised state budget.

"With this configuration, the 2013 draft state budget we tried to control the budget deficit at Rp150.2 trillion or 1.6 percent from the GDP, down by 2.23 percent of the GDP in the 2012 revised state budget," the president said.

He explained that of the Rp1,507.7 trillion revenues, about 80 percent would be derived from tax receipts which were set at Rp1,178.9 trillion, or an increase of 16 percent of the 2012 revised state budget.

It also means that tax ratio will increase from 11.9 percent in the 2012 revised budget to 12.7 percent in the 2013 budget.

The government has set the state expenditures at Rp1,657.9 trillion, or an increase of Rp109.6 trillion (7.1 percent) of the 2012 revised budget ceiling.

The 2013 Draft State Budget was set based on the assumptions of economic growth of 6.8 percent, inflation of 4.9 percent, three-month state debenture interest rate of five percent, oil price of US$100 per barrel and oil lifting of 1.36 million barrels equivalent oil per day.(*)