Budget Deficit to GDP Declines: Minister

Jakarta (Antara Bali) - The provisional budget deficit based on data obtained from the 2015 Revised State Budget (APBNP) up to January 22, 2016 declined to 2.56 percent of the Gross Domestic Product (GDP), a cabinet minister said.

Previous APBNP data showed that the provisional budget deficit up to December 31, 2015 was recorded at 2.8 percent of the GDP, Finance Minister Bambang Brodjonegoro said here Wednesday.

"The decline in the budget deficit was mainly caused by increases in tax receipts and expenditures of non-ministerial institutions and no-institutional agencies," the minister said.
This trend indicated that fiscal performance remained under control amid economic slowdown and rise of productive expenditure.

Indonesia's GDP for 2015 was recorded at Rp11,412 trillion.

The other provisional macroeconomic indicator of 2015 up to January 22, 2016 showed that economic growth was recorded at 4.74 percent lower than the target set in the APBNP 2015 at 5.7 percent.

Inflation rose to 3.35 percent (up to December 31, 2015) from the previous rate of 3.1 percent, but lower than the 5.0 percent rate target set in the APBNP 2015.

The increase in the inflation rate was caused by the decline in the prices of subsidized and non-subsidized fuels, transportation fares and the supplies of basic necessities.

Up to January 22, 2016, the realization of oil lifting was recorded at 777.9 thousand barrels per day, down from data up to December 31, 2015 amounting to 779 thousand barrels per day. The target in the APBNP 2015 was set at 825 thousand barrels per day.

"The realization of the average Indonesian crude price in 2015 stood at US$49.2 per barrel.
Gas lifting in 2015 was recorded at 1,195 thousand barrels of oil equivalent per day of gas, or lower than the target in in the APBNP 2015 set at 1,221 thousand barrels of oil equivalent per day of gas. (WDY)