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[BUSINESS] · Indonesia · 12 sources

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Indonesia state budget deficit reaches Rp319 trillion through September 2026

Indonesia's Ministry of Finance reported that the state budget (APBN) deficit reached Rp319 trillion, or 1.24 percent of GDP, through September 2026. Finance Minister Suahasil Nazara stated the deficit remains 'on track' with the government's original design.

State revenue reached Rp2,341.5 trillion (74.2 percent of the target), driven by tax revenues of Rp1,607.6 trillion and non-tax state revenue (PNBP) of Rp492.3 trillion, which exceeded its target by 7.2 percent. State expenditure totaled Rp2,660.5 trillion, representing 69.2 percent of the budget.

Other fiscal updates include new government debt reaching Rp494.3 trillion as of September 2026. Additionally, the yield spread between Indonesian Government Bonds (SBN) and 10-year US Treasuries narrowed to 188 basis points. Regarding institutional changes, the Ministry is operating with a new formation of three Vice Ministers, and it was confirmed that Danantara dividends will not be included in the 2026 or 2027 state budgets.

Entities

Danantara · Indonesia · Juda Agung · Ministry of Finance · Ministry of Finance of Indonesia · National Nutrition Agency · Prabowo Subianto · Suahasil Nazara

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