Revealed! This is RI’s Secret to Surviving a New Debt of Rp310 T

Jakarta, CNBC Indonesia – The government through the Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance (Kemenkeu) succeeded in reducing additional debt in 2021. The value is not small, reaching Rp 310 trillion.

What’s the secret?

The Director General of PPR at the Ministry of Finance, Lucky Alfirman, explained that in the 2021 State Budget, the target for budget financing is Rp. 1,006,4 trillion and the realization is 86.3% of the target, which is Rp. 868.6 trillion. Specifically for net debt financing, the realization was Rp. 867.4 trillion, or Rp. 310 trillion, lower than the target.

This is due to the high income from taxes, customs, and non-tax state revenues. The three elements, he said, exceeded the target by 103%. It was recorded that the surplus in revenues reached a total of Rp. 259 trillion.

“In terms of spending, the government has carried out various programs reaching 101%. The overall deficit is still, but we can still reduce it, originally in the APBN it was only 5.7% of GDP, but the realization was only 4.56% of GDP, so there was a decrease of Rp. 222 T, ” said Lucky in the Launching and Opening Period of the Retail Government Bond Series ORI021.

The government also optimizes SAL by Rp 144 T. On the other hand, there is assistance from Bank Indonesia (BI) through a Joint Decree (SKB), in which BI buys SBN and bears part of the interest. “So we can reduce our debt by Rp 310 T compared to the target,” said Lucky.

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