MINISTRY OF FINANCE OF INDONESIA
SECRETARY GENERAL
BUREAU OF COMMUNICATION AND INFORMATION SERVICE
Dr. Wahidin Street No.1 Jakarta 10710
Telephone: (021) 3449230 eks. 6347-6348 & 3500849 <> Fax: 3500847
website: http://www.kemenkeu.go.id <> e-mail: humas@kemenkeu.go.id
Number : 2/KLI/2014
Date : 5 January 2014
MACRO ECONOMIC DEVELOPMENT AND REALIZATION OF
THE REVISED STATE BUDGET 2013
1. The realization of Revised State Budget 2013 (APBNP 2013) was effectively maintained in the safe levels.
This achievement is the result of the efforts in managing macroeconomic conditions and the prudent fiscal
policy measures taken consistently during APBNP execution in 2013, despite the challenges of the global and
national economy. In general, the macro economic conditions during 2013 showed the following
developments.
a. Economic growth is estimated at 5.7 %, it is lower than the targeted assumptions of economic growth in
2013 of 6.3 % stated in APBNP2013. The estimation is based on the realization of economic growth until
the third quarter of 2013 reached 5.83% and the economic growth in the fourth quarter which is
estimated to slow down. The estimated lower figure of economic growth is mainly influenced by the
developments in the global economy throughout 2013, including the declining of export commodity
prices.
b. The inflation rate of 2013 was successfully controlled in the range of 8.38%, yet is still higher than the
inflation rate assumed in the APBNP 2013 which was set at 7.2%. The higher inflation rate in 2013 is
mainly caused by the increase in fuel price hike and the weakening of the rupiah as well as its associated
impact on the domestic commodity prices.
c. Realization of average interest rate SPN - 3 months in 2013 reached 4.5 %, or below the assumption of
APBNP 2013 which was set at 5.0%. The relatively low realization rate of SPN 3 months is in line with the
high demand for government securities.
d. Realization of average rupiah exchange rate in 2013 reached IDR10,452/US$; which is weakened
compared to the target assumption of APBNP 2013 set at IDR9,600/US$ . The depreciation of the
exchange rate is influenced by the tapering off plan set by US Central Bank, as well as the global and
national economic development.
e. Realization of Indonesian crude oil average price reached US$106/barrel; lower than the assumptions in
the APBNP 2013 amounted to US$108/barrel. The relatively stable price of crude oil in 2013 is
attributable to the low rate in global demand despite the adequate supply of global oil, and to the
geopolitical stability, especially in the crude oil producing countries.
f.
Realization of Indonesia’s average crude oil and gas lifting in the period of December 2012 to November
2013 respectively reached 825 thousand barrels per day and 1,213 thousand barrels of oil equivalent per
day. The figure is still below the planned target in the APBNP 2013, which is respectively set at 840
thousand barrels per day and 1,240 thousand barrels of oil equivalent per day.
2. Based on the outlook for macroeconomic indicators in 2013 mentioned above, as well as fiscal policy
measures taken during the year 2013, the realization of the APBNP 2013 can be maintained at a safe level.
a. Realization of state revenues reached IDR1,429.5 trillion. This figure showed about 95.2 percent of the
plans set out in the APBNP 2013 amounted to IDR1,502.0 trillion .
Of the total revenue stated above, the realization of tax revenue reached IDR1,072.1 trillion;
IDR76.3 trillion short of the target set in the APBNP 2013 of IDR1,148.4 trillion (93.4 percent
realization). The figure was a result of the slowdown in economic growth in 2013 and the increase in
taxable income policy as well as the slowing activity in the manufacturing sector, mining, and
finance.
In addition, the transfer of Land and Building Tax (PBB) revenue of rural sector to the urban sector
also contributed to the realization of PBB revenue. Furthermore, the successful downstream policy
of Crude Palm Oil (CPO) industry also affected the revenue of export duty.
On the other hand, the realization of non-tax revenues (PNBP) in 2013 reached IDR352.9 trillion;
higher by IDR3.7 trillion of the plan set out in the APBNP 2013 amounted to IDR349.2 trillion (101.1
per cent realization). The achievement was mainly derived from the realization of PNBP revenue
from natural resource (SDA) revenues.
b. Realization of state expenditure in 2013 reached IDR1,639.0 trillion, or about 94.9 percent of state
expenditure budget ceilings set out in the APBNP 2013 amounted to IDR1,726.2 trillion. The details can
be seen as follows :
Realization of central government expenditures reached IDR1,125.7 trillion, or is equivalent to 94.1
percent of central government’s expenditure ceiling set in the APBNP 2013 amounted to IDR1,196.8
trillion. The absorption of central government expenditures from the APBNP 2013 was affected by
the expenditure of state ministries/agencies (K/L), which accounted for about 90.1 per cent of the
budget ceiling set in APBNP 2013.
Realization of budget transfers to Local Government reached IDR513.3 trillion, or 3.0 percent lower
than the budget ceiling set in the APBNP 2013 amounted to IDR529.4 trillion.
c. With the realization of the state budget revenues amounted to IDR1,429.5 trillion, and the realization of
the state budget amounted to IDR1,639.0 trillion, the realization of the budget deficit in the
implementation of APBNP 2013 reached IDR209.5 billion (2.24 percent of GDP). The realization of this
budget deficit is lower than the budget deficit target set in the APBNP 2013 amounted to IDR224.2
billion (2.38 percent of GDP).
d. Realization of the budget financing in 2013 reached IDR230.1 trillion. This means that it reached IDR5.9
trillion (102.6 per cent) higher than the planned target in the APBNP 2013 amounted to IDR224.2 trillion.
The realization of budget financing sourced from domestic financing amounted to IDr243.4 trillion, and
foreign financing (net) amounted to negative IDR13.3 trillion.
e. With the realization of the budget deficit amounted to IDR209.5 trillion, and the realization of budget
financing reached IDR230.1 trillion, then in the execution of the APBN 2013 there is financing surplus
(SiLPA) amounted to about IDR20.5 trillion.
2013
2012
Realization of APBNP (in trillion Rupiahs)
STATE REVENUE
I. DOMESTIC REVENUE
1. TAX REVENUE
2. NON-TAX REVENUE
II. GRANT REVENUE
STATE EXPENDITURE
I. CENTRAL GOVERNMENT EXPENDITURE
II. TRANSFER TO LOCAL GOVERNMENT
1. Balancing Fund
2. Special Autonomy and Adjustment Fund
PRIMARY BALANCE
BUDGET DEFICIT SURPLUS (A - B)
% Deficit to GDP
FINANCING (I – II)
I. DOMESTIC FINANCING
II. FOREIGN FINANCING (nett)
SURPLUS/(DEFICIT) OF FINANCING
LKPP
Audited
1,338.1
1,332.3
980.5
351.8
5.8
1,491.4
1,010.6
480.6
411.3
69.4
(52.8)
(153.3)
(1.86)
175.2
198.6
(23.5)
21.9
APBNP
1,502.0
1,497.5
1,148.4
394.2
4.5
1,726.2
1,196.8
529.4
445.5
83.8
(111.7)
(224.2)
(2.38)
224.2
241.1
(16.9)
0.0
Temporary
realization
to 31
December
1,429.5
1,425.0
1,072.1
352.9
4.5
1,639.0
1,125.7
513.3
430.4
82.9
(96.8)
(209.5)
(2.24)
230.1
234.4
(13.3)
20.5
Head of Bureau
(signed)
Yudi Pramadi
NIP 195808111983111001
% to
APBNP
95.2
95.2
93.4
101.1
100.0
94.9
94.1
97.0
96.6
98.9
86.6
93.5
102.6
101.0
79.1
-