US Budget Deficit in March 2026 Rises, Surpassing Rp 2.802 Trillion

The United States government reported a slight increase in the budget deficit for March 2026 compared to the same period last year. Citing Reuters on Saturday (11/4/2024), the US Department of the Treasury reported that the March budget deficit was recorded at $164 billion or equivalent to approximately Rp 2.802 trillion (assuming an exchange rate of Rp 17,089 per US dollar), an increase of $4 billion or about 2% year-on-year. This rise in the deficit was partly driven by new tax cut policies for individuals and corporations that spurred a surge in tax refunds. Additionally, aid payments to farmers also increased. In the first month of the conflict, military spending and defence programmes only rose by about $2 billion or 3% to $65 billion or equivalent to approximately Rp 1.111 trillion. A US Treasury Department official stated that most war-related expenditures, such as replenishing weapons stockpiles, would only materialise in subsequent months. On the other hand, receipts from customs duties were recorded as weakening. This occurred after the US Supreme Court overturned broad global tariffs previously imposed by President Donald Trump through emergency legislation. Nevertheless, the figure was still higher than March 2025, which stood at $8.2 billion or equivalent to approximately Rp 140 trillion. Overall, state revenues in March reached $385 billion or equivalent to approximately Rp 6.579 trillion, up $17 billion or 5% from the previous year. Taking into account calendar adjustments related to benefit payments, the March deficit is estimated to reach $250 billion or equivalent to approximately Rp 4.272 trillion, up $9 billion (4%) compared to the same period last year.