"The 2021 State Budget Draft's fiscal deficit target now is Rp1,006.4 Trillion or 5.7 percent of GDP. The difference is Rp35.2 trillion or 0.2 percent of GDP," Finance Minister Sri Mulyani Indrawati during a meeting with the members of the Budget Comittee (Banggar) of the House of Representatives (DPR) here on Friday.
According to the former World Bank managing director, state revenue realization is expected to only reach Rp1,743.6 trillion next year.
"We have lower tax revenue target. The estimation is based on the development of tax revenue realization until August this year," the minister explained.
Earlier today, the central government and the parliament have agreed to set Indonesia's economic growth target for 2021 at five percent.
According to the central government, this target illustrates hope but also caution about economic conditions in Indonesia next year.