Indonesia’s state budget deficit expanded to Rp 479.7 trillion (US$28.7 billion), or 2.02 percent of GDP, as of the end of October 2025, Minister of Finance Purbaya Yudhi Sadewa announced on Thursday, November 20, 2025.

Despite the widening gap, the government, however, insists that fiscal discipline remains intact amid global economic uncertainties.

"The realization of the State Budget through October 31, 2025, as a whole demonstrates careful and prudent management, as well as maintaining fiscal discipline amidst global dynamics,” Purbaya told the monthly APBN Kita (Our State Budget) November 2025 press conference at his office.

The October deficit marks a significant rise from Rp 371.5 trillion, or 1.56 percent of GDP, recorded at the end of September. Still, the figure remains well below the government’s official deficit ceiling of 2.78 percent for the 2025 fiscal year.

“This reflects our strong commitment to maintaining an effective and credible state budget,” Purbaya said.

State revenue was recorded at Rp 2,113.3 trillion, or 73.7 percent of the outlook, marking steady growth from Rp 1,863 trillion logged a month earlier.

Purbaya noted that rising tax receipts continued to drive the improvement, with tax revenue hitting Rp1,708 trillion, or 71.6 percent of the target. Non-tax revenue (PNBP) also performed strongly, reaching Rp402.4 trillion, equivalent to 84.3 percent of the annual outlook.

On the expenditure side, government spending climbed to Rp 2,593 trillion, or 73.5 percent of the 2025 outlook. The minister said the spending continued to prioritize social protection, infrastructure development, and structural reform initiatives.

"This spending is prioritized to maintain purchasing power, support infrastructure, and oversee structural reforms," Purbaya said.

He emphasized that the Finance Ministry would intensify monitoring of ministry and agency expenditures, as well as transfers to regional administrations, to ensure effective budget execution in the remaining months of the year.