Indonesia posts $3.9 billion budget surplus in Jan-Sept

JAKARTA : Indonesia had a budget surplus of 60.9 trillion rupiah ($3.90 billion) in the January to September period, equivalent to 0.33 per cent of gross domestic product, Finance Minister Sri Mulyani Indrawati said on Friday, compared with a 2.66 per cent deficit in the same period in 2021.

The minister said the budget until September still showed a recovery after the pandemic and expected GDP growth in the third quarter will stand above target at 5.2 per cent.

"In Q3, we expect the growth to be supported by domestic consumption, investment and export," she said.

Government revenues were up 45.7 per cent on a yearly basis in the January-September period to 1,974.7 trillion rupiah, which the minister attributed to high commodity prices and economic recovery after the pandemic.

Spending rose 5.9 per cent on a yearly basis to 1,913.9 trillion rupiah.

($1 = 15,630.0000 rupiah)