According to the government's report on State budget balance, revenue reached 45 billion USD, 11% up on the set target. Meanwhile, the budget deficit was kept at 10 billion, equivalent to 5% of GDP. Despite this achievement the Ministry of Finance intends to further tighten fiscal discipline, especially in state budget spending as part of efforts to address any concerns over long-term debts.
The rising budget deficit was partially attributed to the government’s policies to stimulate investment and consumption, in addition to the impact of the domestic and global economic cycle.
