BUSINESS

Government Spends 50.9 Percent of State Budget by August

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Finance Minister Sri Mulyani Indrawati (Antara/Puspa Perwitasari)

The government had spent Rp695.66 trillion (US$52.31 billion), or about 50.9 percent of its total spending plans for 2017 as stipulated in the revised state budget.

Finance Minister Sri Mulyani Indrawati (Antara/Puspa Perwitasari)

Finance Minister Sri Mulyani Indrawati said on Thursday that as of August, the government had spent Rp695.66 trillion (US$52.31 billion), or about 50.9 percent of its total spending plans for 2017 as stipulated in the revised state budget.

The government had spent Rp644.71 trillion, or 49.3 percent, by the corresponding period last year.

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“There is a bit of an increase in spending this year,” Sri Mulyani said before members of House of Representatives Commission XI overseeing financial affairs.

She explained that regional transfers had reached Rp502.60 trillion up to the end of August, or about 65.6 percent of the year’s target for regional transfers.

Last year, regional transfers by August reached Rp490.29 trillion, or about 63.20 percent of total regional transfers for that year.

Meanwhile, the state budget deficit hit 1.64 percent of gross domestic product (GDP), or about Rp 224.35 trillion, by August, compared to 2.09 percent, or Rp261.47 trillion, last year. (bbn, The Jakarta Post)

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