Sri Mulyani: Indonesia’s economy is facing four hurdles

The economy in April 2022 faced the challenge of rising prices. (IO/Rayi Gigih)

Jakarta, IO – Finance Minister Sri Mulyani Indrawati announced that, as of April, the national budget (APBN) recorded a surplus of Rp103.1 trillion (0.58% of GDP). 

The surplus happened because the state revenues of Rp853.6 trillion exceeded the state expenditures of Rp750.5 trillion. APBN primary balance in April also recorded a surplus of up to Rp220.9 trillion. Due to the surplus, financing fell to Rp142.7 trillion. 

“In general, if we look at the APBN posture until the end of April, there was a large surplus both in the primary balance and in terms of the total balance,” she said at a press conference on Monday (23/5). 

In her view, this a very good achievement in consolidating the APBN in order to maintain a healthy and sustainable budget. The surplus will be used as a “shock absorber” to cushion the impact of the pandemic and rising commodity side. “The State Budget is like a stabilizer or shock absorber or countercyclical instrument. It has always been the first and foremost instrument that the people and the economy rely on,” she explained.