Politics: Indonesia's House (DPR) Approves 2018 State Budget
Indonesia's House of Representatives (DPR) approved the government's proposed 2018 state budget bill in a plenary session on Wednesday (25/10), hence turning the bill into law. Taufik Kurniawan, Deputy House Speaker, announced this decision earlier today.
Indonesia's 2018 state budget includes a fiscal deficit target of 2.19 percent of the nation's gross domestic product (GDP), lower than the 2.92 percent of GDP set in the revised 2017 state budget (a figure that is close to the legal limit of 3 percent of GDP).
State Budget of Indonesia:
| State Budget 2016 (Audited) |
State Budget 2017 (Revised) |
State Budget 2018 (Approved) |
|
| Revenue in IDR trillion |
1,555.9 | 1,736.1 | 1,894.7 |
| Tax Revenue in IDR trillion |
1,285.0 | 1,472.7 | 1,618.1 |
| Spending in IDR trillion |
1,864.3 | 2,133.3 | 2,220.7 |
| Budget Deficit % of GDP |
2.49 | 2.92 | 2.19 |
| GDP Growth annual % change |
5.0 | 5.2 | 5.4 |
| Inflation annual % change |
3.0 | 4.3 | 3.5 |
| Exchange Rate IDR/USD |
13,307 | 13,400 | 13,500 |
| 3-Month Notes coupon (%) |
5.7 | 5.2 | 5.3 |
| Crude Oil Price in USD per barrel |
40 | 45 | 48 |
Sources: Finance Ministry & Commission XI DPR