The Finance Ministry’s Directorate General for Taxation announced that the amount of tax collection reached Rp900.8 trillion (US$62.12 billion) in the first nine months (9M) of 2018, around 63.3% of the full year target. Government expected state revenue will reach 95-96% of the target, while the deficit expected to lower than this year’s target.
Meanwhile, the realization of customs and excise revenue has reached Rp125.1 trillion or 64.5% of the 2018 State Budget target. Even there are lot a pressures on the tax and excise revenues, government decided not to revise the 2018 State budget although some assumption including rupiah currency against US Dollar and oil price are too far from the realization.
Finance Minister Sri Mulyani Indrawati said the Indonesian government views the posture of the 2018 state budget are quite stable and does not experience a big deviation in state revenue and state expenditure. The deficit is smaller than planned at 2.12% of gross domestic product (GDP) or equivalent to Rp314 trillion from an assumption of 2.19% of GDP or Rp325 trillion.