By: Hernanda Adi)*
The realization of the State Budget (APBN) performance shows an increasingly positive trend until mid-2025. The government has succeeded in recording a budget surplus, marking success in managing fiscal carefully amidst global economic dynamics. This surplus not only reflects increased state revenues, but also controlled and more targeted spending. In a global situation that is still full of uncertainty, this achievement is an indicator that the government’s fiscal policy strategy is on the right track.
The Minister of Finance, Sri Mulyani explained that state revenues up to the second quarter of 2025 were recorded to have experienced quite significant growth. Tax performance as the main contributor to state revenues recorded a realization above the target in the same period. The realization of the APBN in April 2025 turned into a budget surplus of IDR 4.3 trillion or 0.2% of Gross Domestic Product (GDP) after experiencing a deficit from January to March 2025.
This was driven by increased economic activity, improved investment climate, and implementation of more efficient tax reforms. In addition, revenues from the customs and excise sector, as well as Non-Tax State Revenues (PNBP) such as from the natural resources and government services sectors, also increased. This momentum shows that the APBN is still able to support the national development agenda.
In terms of state spending, the government remains focused on increasing productive spending that can drive long-term economic growth. Infrastructure, education, health, and social protection spending are the main priorities in budget realization. With increasingly efficient budget use, the government has also succeeded in reducing waste and minimizing budget leaks. Not only that, the digitalization process in budget management also makes the distribution of funds more transparent and accountable. This strengthens public trust in the management of state finances.
The APBN surplus recorded until May 2025 provides a wider fiscal space for the government to face potential future risks. The existence of this budget surplus is also an important buffer for national macroeconomic stability, especially in facing potential pressures from abroad such as fluctuations in global commodity prices, international interest rates, and geopolitical tensions. With a solid fiscal position, the government has greater flexibility to respond to emergencies without having to rely on short-term debt.
This achievement also provides a positive signal for financial markets and investors. Fiscal stability is one of the main indicators monitored by international rating agencies and market players in assessing the economic health of a country. With a sustainable budget surplus, Indonesia’s fiscal risk is considered to be getting lower, thus strengthening the country’s position in attracting investment, both from within and outside the country. This will certainly have a chain effect on job creation, increasing people’s income, and economic growth in general.
BI Governor Perry Warjiyo explained that this positive trend must be maintained by strengthening synergy between agencies and maintaining budget discipline. The challenges that are still faced include maintaining the stability of food and energy prices, expanding the tax base, and ensuring that social assistance and regional development programs can be distributed quickly and on target. The government also continues to improve the planning and budgeting system to be more adaptive to changes and community needs.
From the community’s perspective, the realization of a healthy and efficient APBN has a real impact on everyday life. Increasingly evenly distributed infrastructure, more affordable health and education services, and targeted social protection programs are part of the direct benefits of good APBN management. Transparency in budget implementation also allows the public to participate in monitoring the implementation of government programs. Public participation in budget supervision is an important part of realizing good governance.
Chief Economist of Trimegah Sekuritas Indonesia, Fakhrul Fulvian, explained that in the future, the positive performance of the APBN is expected to continue along with the national economic recovery. The government needs to continue to be vigilant that every rupiah spent from the state budget has the greatest economic and social impact on the people. By maintaining a balance between economic growth, fiscal stability, and sustainable development, the APBN will remain the main instrument in realizing a prosperous and competitive Indonesia. The public is also expected to continue to support and supervise so that the realizationi the budget remains in line with public aspirations and national interests.
Overall, the realization of the APBN performance which recorded a budget surplus until mid-2025 is clear evidence of the government’s success in managing fiscal matters carefully, transparently, and responsibly. This achievement provides strategic space to maintain national economic stability while strengthening public and investor confidence in the foundations of the Indonesian economy. By continuing to prioritize productive spending and strengthening the monitoring system, the APBN is expected to continue to be the main instrument in encouraging inclusive, sustainable, and equitable growth throughout Indonesia.
)* The author is a student at Uninus Bandung
