Article data source: ANTARA News Agency, Jokowi's 2025 State Budget Speech Translated by: Qiandao Enterprise Services Indonesian President Joko Widodo submitted the 2025 Draft State Budget and Expenditure on Friday, August 16. This budget aims to support the new government for 2024-2029 and remind them of the risks that global economic turmoil may pose to Indonesia. According to budget data from the Indonesian Presidential Secretariat, the government budget includes two main parts: revenue and expenditure: Total revenue is Rp2,996.9 trillion, including:
  1. Tax revenue: Rp2,490.9 trillion
  2. Non-tax state revenue: Rp505.4 trillion
  3. Grant revenue: Rp0.6 trillion
Total expenditure is Rp3,613.1 trillion, including:
  1. Central government expenditure: Rp2,693.2 trillion
  2. Transfers to regions: Rp919.9 trillion
The total budget deficit is Rp616.2 trillion, meaning expenditure exceeds revenue, with a deficit of 2.53% of GDP. Jokowi emphasized the importance of the budget in ensuring sustainable development. He stated that the 2025 Indonesian State Budget (APBN) is a key pillar for sustainable development, strengthening continuity between the current government and the future government to ensure the continuation and implementation of excellent policies. The basic macroeconomic assumptions for Indonesia in 2024 include:
  1. Economic growth: GDP growth rate expected at 5.2%
  2. Inflation: Overall price level expected to rise by 2.5%
  3. Exchange rate: Exchange rate of the Indonesian rupiah against the US dollar expected at Rp16,100
  4. 10-year government bond yield: Expected at 7.1%
  5. Crude oil price: International crude oil price expected at USD 82 per barrel
  6. Crude oil production: Indonesia's crude oil production expected at 600,000 barrels per day
  7. Natural gas production: Natural gas production expected at 1,005 million barrels of oil equivalent per day
The Indonesian government's economic strategy includes:
  1. Increasing employment through various measures to reduce unemployment
  2. Strengthening the economic base by supporting MSME development
  3. Taking measures to stabilize prices and control inflation
  4. Increasing social financing channels to enable more people to access funding
  5. Stimulating economic growth through policies such as tax incentives
  6. Helping vulnerable groups improve living conditions through social assistance programs
  7. Responding promptly to changes in the global currency market to maintain economic stability
  8. Promoting balanced development across regions through policy measures to reduce regional disparities
The introduction of the Indonesian state budget not only provides a clear fiscal framework for the future government but also lays a solid foundation for the sustainable development of Indonesia's economy. Through well-designed economic strategies and policy measures, Indonesia is expected to maintain stability amid global economic turmoil and achieve long-term prosperity and development.