| Embassy of Indonesia - Ottawa Canada | April 14, 2003 |
Q1 of 2003 government
revenues and expenditure budget
realization above target
|
State Budget realization until March 31st
2003 (Quarter I) showed a surplus around IDR2,9 trillion, above the target
of IDR7,6 trillion deficit. Such surplus came from the realization of
government revenue and grants totaling IDR69,2 trillion, or 94,3% from the
first quarter target, and realization of government expenditure which up
to IDR66,2 trillion, or 81,9% from the quarter I target. The realization from taxation income was IDR57,1 trillion, and non-taxation was IDR12,1 trillion. From the taxation income, oil and gas income tax, value added tax and luxury goods-value added tax were above the target. While non-oil and gas and import duties for the first quarter were below the target. On the Government non-taxes revenues side for the first quarter, oil and gas earnings realization was lower than the target. This is because the National Oil and Mining Company (Pertamina) has prepared for the domestic oil and gas consumption supplies during the Iraq crises. On the expenditure side, the realization for regular, development and regional budget were each IDR33,3 trillion, IDR3,9 trillion and IDR29,0 trillion, or approximately 76,1%, 73,6% and 91,4% from the first quarter target. This low regular expenditure realization was caused by the late payment of salary increment for the government employees on April 1st 2003. For this quarter allocation for the development budget is IDR3,9 trillion from the planned of IDR5,3 trillion. During the first quarter, the income from IBRA (assets selling) reached to IDR3,0 trillion, while the payment for government bonds was IDR6,1 trillion. Net foreign financing during the first quarter came from the foreign loan disbursement amounted of IDR2,4 trillion and the foreign loan principal installment was IDR4,1 trillion. On Paris Club III, the rescheduling for foreign loan interest has been approved 50% from the formerly agreed, which was US$723 million. This is due to better foreign currency reserves position in Bank Indonesia. According to Minister of Finance, the achievement of State Budget, which was above the target, has a positive impact on fiscal consolidation. |
Source : Bank of Indonesia |