Jakarta (Antara Bali) - Finance Minister said the target was overshot for the state budget deficit in 2015 reaching Rp318.5 trillion or 2.8 percent of the countrys Gross Domestic Product (GDP).
The deficit was larger than the target of Rp222.5 trillion or 1.9 percent of the GDP , the chief spokesperson of the finance ministry NE Fatimah said in a statement here on Sunday.
Fatimah said state income reached only Rp1,491.5 trillion as against state spending of Rp1,810 trillion.
Realization of state income reached only 84.7 percent of the target of Rp1,761.6 trillion including Rp1,235.8 trillion in tax revenues or 83 percent of the target of Rp1,489.3 trillion and non tax state revenues of Rp252.4 trillion or 93.8 percent of the target of Rp269.1 trillion.
The shortfall in the tax revenues was attributable to slowdown in the manufacturing and mining sectors as well as shrinking imports and falling commodity prices .
Increase was recorded in oil and gas income to a total of Rp547.5 trillion or 19 percent higher than in 2014.
Tax revenues from non oil/gas sector reached
Rp1,005.7 trillion or an increase of 12 percent bringing the total tax revenues to Rp1,150 trillion gross. Total net tax revenues was recorded at Rp1,055 trillion.
Meanwhile state spending totaled Rp1,810 trillion or 91.2 percent of the ceiling of Rp1,984.1 trillion with breakdown : spending by the central government at Rp1,187.1 trillion or 90 percent of the ceiling of Rp1,319.5 trillion and transfer to the regions and rural funds at Rp623 trillion or 93.7 percent of the ceiling of Rp664.6 trillion.
The spending by the central government included spending by ministries at Rp724.3 trillion or 91.1 percent of the ceiling of Rp795.5 trillion and spending by non ministerial agencies at Rp462.7 trillion or 88.3 percent of the ceiling of Rp524.1 trillion.
"Altogether, spending by the ministries reached Rp724.3 trillion nominally higher than Rp577.2 trillion in 2014. Capital spending reached Rp213.3 trillion or an increase of 45 percent year-on-year," NE Fatimah said.
With the state budget deficit at Rp318.5 trillion and funding at Rp329.4 trillion , there was Rp10.8 trillion in unspent budget.
Fatima said the governments outstanding debts by December 31, 2015 was Rp3,089 trillion with debt ratio to GDP at 27 percent.
The ratio was still safe , well below the limit of 60 percent as set in the Law No.17 of 2003. (WDY)
