Indonesia posts 31.3 trillion rupiah budget surplus in Jan

INDONESIA’S budget surplus in January was at 31.3 trillion rupiah (S$2.7 billion) or 0.14 per cent of gross domestic product, Finance Minister Sri Mulyani Indrawati said on Thursday (Feb 22).

Government revenues in January were recorded at 215.5 trillion rupiah or 7.7 per cent of the full-year target, while spending was at 184.2 trillion rupiah or 5.5 per cent of the total allocation.

The government plans to spend US$216 billion this year, with a fiscal deficit outlook of 2.29 per cent of GDP and economic growth target of 5.2 per cent.

Sri Mulyani has said that 2024’s budget will be focused on safeguarding the economy from rising geopolitical tensions and completing remaining infrastructure projects. REUTERS