The government has set a target to collect Rp 1.61 quadrillion (US$120.3 billion) in tax revenue next year, according to the proposed 2018 state budget read by President Joko "Jokowi" Widodo during the House of Representatives plenary session in Jakarta on Wednesday.

The figure is 9.3 percent higher than the amount earmarked in the revised 2017 state budget.

"The government will put forth its best efforts to achieve such a target through various improvement measures and by making use of all national economic potentials while maintaining the investment climate and business stability," Jokowi said.

Read also: House approves 2017 revised budget

The government expects to book Rp 1.88 quadrillion in state revenue next year. State expenditure is set at Rp 2.20 quadrillion and government spending at Rp 1.44 quadrillion, while Rp 761.1 trillion is set aside for regional transfers and village funds.

With the plan, the state budget deficit is estimated to stand at Rp 325.9 trillion, 2.19 percent of the country's gross domestic product (GDP). (bbn)

Source:
courtesy of THE JAKARTA POST

by Prima Wirayani Prima Wirayani

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