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JAKARTA - The government has targeted a deficit of Rp257.6 trillion or 2.32 percent of the Gross Domestic Product (GDP) in the Draft 2015 State Budget, with state revenue of Rp1,762.3 trillion and expenditure of Rp2,019.9 trillion.
"The deficit in the Draft 2015 State Budget is Rp257.6 trillion or 2.32 percent of the GDP, down from the deficit in the revised 2014 state budget set at 2.4 percent of the GDP," President Susilo Bambang Yudhoyono announced when delivering a speech on the Draft 2015 State Budget and its Financial Notes at the plenary session of the House of Representatives (DPR) here on Friday.
The president explained that in broad lines, the state budget consisted of state revenues worth Rp1,762.3 trillion and state expenditures worth Rp2,019.9 trillion. He noted that state revenues consisted of tax receipts amounting to Rp1,370.8 trillion, non-tax revenues totaling Rp388.0 trillion, and grant worth Rp3.4 trillion.
The total state expenditures covered Rp1,379.9 trillion for central governments spending and Rp640 trillion to be transferred to the regional governments and villages. He added that with the total tax revenue of Rp1,370.8 trillion, the tax ratio against the GDP in 2015 stood at 12.32 percent. While the tax ratio in broad term--which covers regional taxes and natural resources income--is about 15.62 percent.
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