Jakarta, Indonesia Sentinel — Indonesia state budget (APBN) recorded a deficit of Rp 31.2 trillion ($2 billion) or 0.13% of GDP in February 2025, according to Finance Minister (Kemenkeu) Sri Mulyani Indrawati. This marks a significant increase from the January deficit of Rp 23.5 trillion.
Sri Mulyani disclosed the figures during a press conference at the Ministry of Finance in Jakarta on Thursday (March 13, 2025). Despite the deficit, she emphasized that it remains within the government’s planned budget framework.
“This 0.13% deficit is still within the 2025 state budget target design of 2.53% of GDP, amounting to Rp616.2 trillion,” she stated.
Revenue and Expenditure
The fiscal deficit results from lower-than-expected state revenues compared to government spending.
State revenues, including tax collections and non-tax revenue (PNBP), reached Rp316.9 trillion ($20 billion) by the end of February—equivalent to 10.5% of the targeted Rp3,005.1 trillion for the year.
Tax revenue amounted to Rp240.4 trillion, consisting of Rp187.8 trillion from direct taxes and Rp52.6 trillion from customs and excise duties. Meanwhile, non-tax revenues contributed Rp76.4 trillion to the state coffers.
On the expenditure side, total government spending in February reached Rp348.1 trillion ($22 billion), representing 9.6% of the total planned expenditure for 2025, which stands at Rp3,621.3 trillion.
Central government spending totaled Rp211.5 trillion, including Rp83.6 trillion for ministries and government agencies and Rp123.9 trillion for non-ministerial expenditures.
Additionally, regional transfer allocations reached Rp36.6 trillion, or 14.9% of the total planned transfers of Rp919 trillion for 2025.
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Primary Balance Remains Positive
Despite the overall state budget (APBN) deficit, Indonesia primary balance remained in surplus, standing at Rp48.1 trillion at the end of February.
Sri Mulyani stressed that the deficit remains in line with the government’s fiscal financing strategy. With the state budget deficit under control and both revenues and expenditures progressing as planned, she reaffirmed the government’s commitment to maintaining Indonesia fiscal stability and supporting sustainable economic growth throughout 2025.
(Raidi/Agung)
