Bank Mandiri Chief Economist Andry Asmoro assessed that the State Budget (APBN) deficit recorded at IDR 21 trillion or 0.09 percent of gross domestic product (GDP) in May 2025 is still very controllable.
The figure is still far below the maximum annual deficit limit set by the government, which is Rp616 trillion or 2.53 percent of GDP. The current deficit is still within safe limits, especially because it is supported by the front-loading strategy of issuing government securities (SBN).
"The deficit of Rp21 trillion or 0.09 percent of GDP is still far below the annual target, and shows prudent fiscal management amid global economic pressures," Andry, or Asmo as he is familiarly called.
In terms of revenue, the state pocketed Rp995.3 trillion or 33.1 percent of the 2025 State Budget target of Rp3,005.1 trillion. This realization contracted 11.4 percent annually (yoy), lower than the average of the last three years of 49.1 percent.
