Detiktoday.com – GDP is one of the most widely cited economic indicators. This is monitored by analysts, policy makers, and researchers. The changes provide valuable insights on how the economy grows and develops because of that the increase in GDP was very influential on the Indonesian economy.
Minister of Finance Sri Mulyani Indrawati submitted the Draft Law (RUU) on the Responsibility for the Implementation of the 2019 APBN to the Indonesian Parliament.
In his presentation, Sri Mulyani said that the accountability in the implementation of the APBN showed quite good achievements
In fact, at that time the economy was faced with uncertainty due to the dynamics of trade and geopolitical wars, falling commodity prices, to the economic slowdown that occurred in several countries in the world.
“Indonesia’s economy in 2019 was able to grow 5.02 percent, or slightly slowed compared to the previous year, which was 5.17 percent,” Sri Mulyani said in a plenary meeting of the Indonesian Parliament on Thursday (07/16/2020).
With the performance of economic growth in 2019, Sri Mulyani said, the figure of 2019 Gross Domestic Product (GDP) reached Rp 15,833.9 trillion, an increase compared to 2018 which was Rp 14,838.3 trillion.
The inflation rate in 2019 will be 2.72 percent, or below the inflation target set in the 2019 TA Budget, which is 3.50 percent. “The achievement of the inflation rate in 2019 which is below 3 percent is the lowest in 20 years,” said Sri Mulyani.
In the 2019 State Budget the realization of state revenue was Rp 1,960.6 trillion or 90.6 percent of the revenue budget in the 2018 State Budget. The state revenue increased Rp 16.9 trillion or 0.9 percent compared to 2018 realization.
State expenditure both in the form of central government spending and transfers to regions and village funds (TKDD) play a significant role in providing stimulus to the economy.
In 2019, the realization of state expenditure will reach Rp 2,309.3 trillion or 93.8 percent of the spending budget in 2018, consisting of central government expenditure of Rp 1,496.3 trillion and TKDD of Rp 812.9 trillion.
The realization of the state expenditure increased by Rp 96.2 trillion or 4.3 percent compared to the realization of expenditure in 2018
Based on the realization of state revenues and expenditures, the 2019 state budget deficit was recorded at Rp 348.7 trillion.
The budget deficit was subsequently closed with financing (net) of IDR 402.1 trillion, which came from sources of Domestic Financing (net) of IDR 419.6 trillion and Foreign Financing (net) amounting to minus IDR 17.5 trillion.
As such, there is an excess of the Budget Financing (SiLPA) in FY 2019 of Rp 53.4 trillion.