VIVAnews – Subsidies for the energy sector in 2008 reached Rp 223 trillion (US$20.4 billion). This exceeds the 2008 Revised State Budget by Rp 35.9 trillion (US$ 3.3 billion)
Head of the Department of Finance’s Public Relations Bureau, Harry. Z. Soeratin, stated that the high subsidies for the fuel and electricity sector are caused by several factors, such as the sharp increase in fuel consumption, the depreciation in the value of rupiah’s exchange rate, as well as the high prices of crude oil until October 2008.
Central government’s expenditure in 2008 reached Rp 692.6 trillion (US$63.3 billion), which is Rp 4.4 trillion (US$402 million), or 0.6 percent, below the allocation in the 2008 Revised State Budget. This figure is partly affected by Ministerial/Institutional expenditure which amounted to Rp 265.3 trillion (US$24.3 billion), or 91.5 percent of the 2008 Revised State Budget’s target.
Meanwhile, the budget transfer to regions was Rp 292.6 trillion (US$26.8 billion), almost the same as the figure allocated in the budget. State expenditure amounted to Rp 985.3 trillion (US$90.1 billion), which Rp 4.2 trillion (US$384 million) below the budget’s allocation.
With regard to financing the state budget, according to Soeratin, the amount is Rp 55.5 trillion (US$5.1 billion), which is Rp 39 trillion (US$3.6 billion) lower than planned. This achievement is affected by the issue of state bonds, which amounted to Rp 85.9 trillion (US$7.9 billion), also lower than the target. “This is due to the lack of conduciveness of the obligations market as a result of global financial crisis impact,” he said.
Translated by: Ramona Sofianne Dewi Sasradipoera
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