JAKARTA : Indonesia posted a 128.5 trillion rupiah ($8.69 billion) budget surplus in the first quarter on strong tax collection and the recent strengthening of the rupiah currency could help further reduce this year's deficit, officials said on Monday.Indonesia's tax take rose dramatically in 2022 amid hi
JAKARTA : Indonesia posted a 128.5 trillion rupiah budget surplus in the first quarter on strong tax collection and the recent strengthening of the rupiah currency could help further reduce this year's deficit, officials said on Monday.
Revenues in January to March stood at 647.2 trillion rupiah, up 29 per cent from the same period last year, while spending rose 5.7 per cent to 518.7 trillion rupiah, according to finance ministry data. The recent appreciation of the rupiah against the U.S. dollar would bode well for government revenues, including increasing revenues from royalties on natural resources and reducing interest payments on debt and spending on fuel subsidies, Febrio Kacaribu, the head of the ministry's fiscal policy agency, told a news conference.The rupiah has strengthened more than 5 per cent so far this year, better than other emerging Asian currencies, even as it fell 0.6 per cent on Monday's trading.
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