President Chairs Limited Cabinet Meeting On Draft State Budget 2015

Jakarta, March 10 (Antara) - President Susilo Bambang Yudhoyono chaired a limited cabinet meeting to discuss the draft state budget 2015 in his office here on Monday. "In line with the existing regulations, we are obliged to and responsible for the formulation of the state budget. It is possible that when a new government is formed, there will be a revision, or review, of the State Budget (APBN) 2015 and the Government Working Plan (RKP)," President Yudhoyono said. The head of state stated that he will explain to his successor about the RKP and the APBN 2015 that he drafted. The meeting was attended by Vice President Boediono and a number of ministers in charge of ministries-related to the economy, including the Chief Economic Minister, Hatta Rajasa; the Coordinating Minister for People`s Welfare, Agung Laksono; the Coordinating Minister for Political, Legal and Security Affairs, Djoko Suyanto; the Finance Minister, Chatib Basri; and the National Development Planning Minister/Head of the National Development Planning Agency, Armida S Alisjahbana. Following the discussion on the draft state budget, the meeting proceeded with a discussion of the modernization process and efforts to improve professionalism in the police force. Meanwhile, the government is expected to submit a draft of the revised 2014 state budget to the House of Representatives (DPR) before the legislative elections scheduled to be held on April 9, as several macro assumptions of the 2014 state budget, such as the rupiah`s exchange rate and oil and gas lifting (sold), are no longer relevant to the outlook for 2014. A deficit in the revised 2014 state budget may exceed the target of 1.69 percent of the national gross domestic product (GDP), the Deputy Finance Minister Bambang Brodjonegoro hinted recently. "Let`s wait and see. However, it will not exceed the threshold of 2.5 percent," he said on Friday, March 7. In the 2014 state budget, the government and the DPR have agreed to set state revenues at Rp1,667.1 trillion and state spending at Rp1,842.5 trillion, with deficit forecast at Rp175.4 trillion or 1.68 percent of the GDP. Director General of Taxation Fuad Rahmany predicted tax receipts will fall short of the target of Rp1,110.2 billion, set in the 2014 state budget.