Jakarta:Finance Minister Sri Mulyani Indrawati said Indonesia's economy in 2019 managed to grow positively amid a global economic slowdown that was affected by the dynamics of trade and geopolitical wars, falling commodity prices, and economic slowdown in many countries.
She explained that Indonesia's economy in 2019 was still be able to grow above 5 percent due to maintained domestic demand, government consumption and investment.
She added that the maintained economic performance and the implementation of development programs also succeeded in reducing unemployment, reducing inequality and maintaining public welfare.
"In 2019 the economy wasn't really good from a global perspective and it was emerging in its influence to our domestic economy. However the domestic economy can still show resilience with growth still above 5 percent," she was quoted by the Finance Ministry's official website on Tuesday, January 7, 2020.
In the midst of global economic uncertainty and in many countries, the 2019 state budget was driven expansively and countercyclically to play a strategic role in maintaining macroeconomic stability, maintaining the momentum of domestic economic growth, and encouraging the pace of business activities, while continuing to provide protection to the public.
Based on the realization of the country's revenue and expenditure, the 2019 budget deficit reaches Rp353 trillion (2.2 percent of GDP) which is slightly wider than the initial target of 1.84 percent of GDP but remains within the limits mandated in the State Finance Law .
Realization of state revenue reached Rp1,957.2 trillion or 90.4 percent of the 2019 State Budget target. When compared with the achievements in 2018, the realization of the 2019 state revenue grew 0.7 percent. Furthermore, the realization of state expenditure reached Rp2,310.2 trillion or 93.9 percent of the 2019 state budget target, or grew 4.4 percent from its realization in 2018.