Govt budget in deficit in 1992-1993

Govt budget in deficit in 1992-1993

JAKARTA (JP): The government's budget ran into a deficit of Rp 551.19 billion (US$247.17 million at the current rate) in 1992- 1993 due to higher-than-expected spending for development programs, Minister of Finance Mar'ie Muhammad said yesterday.

He told a plenary session of the House of Representatives, on the government's final report on the realization of its 1992-1993 budget, that the government's revenue in that fiscal year reached Rp 59.96 trillion, 6.88 percent higher than Rp 56.1 trillion budgeted.

However, because the government's spending reached Rp 60.51 trillion, the realization of its budget was in a deficit of Rp 551.19 billion, he said, Antara reported.

The minister explained that the government collected Rp 48.86 trillion in revenues from domestic resources in 1992-1993 and Rp 11.09 trillion from foreign aid.

According to the government's budget, domestic revenues were expected to reach only Rp 46.5 trillion and foreign aid Rp 9.6 trillion that fiscal year.

Mar'ie said that the government's spending for routine activities reached Rp 33.6 trillion, slightly higher than the budgeted Rp 33.19 trillion, while its spending for development programs reached Rp 26.9 trillion, far higher than the budgeted Rp 22.91 trillion.

He said the deficit was covered by the government's budget reserves, which were recorded at Rp 4.71 trillion as of the end of the 1992-1993 fiscal year in March 1993. (riz)