Kantong Negara Jebol Rp153,7 T! Pajak Anjlok Jadi Dalangnya

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1.1. Indonesia’s Budget Gap Widens

Indonesia’s Budget Gap Widens

Indonesia's government has reported a widening budget deficit of Rp153.7 trillion as of August 2024, equivalent to 0.68% of the country's Gross Domestic Product (GDP). Despite this, the Ministry of Finance assures that the deficit remains within the projected range for the year.

The growing deficit can be attributed to several factors, including a decline in tax revenue, particularly from the oil and gas sector. A drop in global commodity prices has impacted the profitability of Indonesian companies, leading to lower corporate tax payments. Additionally, the government's increased spending on social programs and infrastructure projects has contributed to the widening gap.

To finance the deficit, the government has resorted to borrowing through the issuance of government bonds. As of August, the government has issued bonds totaling Rp310.4 trillion, exceeding the same period last year. This increased borrowing is aimed at funding various government programs and projects.

Despite the challenges, the government remains optimistic about the country's economic outlook. Officials have highlighted the positive growth in certain sectors, such as consumer spending, which is expected to support economic recovery. However, they also acknowledge the need to maintain fiscal discipline and implement measures to boost revenue.

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