Analysis Affecting the Budget Deficit and its Factors in Indonesia for the Period 1995-2020

Oki Prastyawati, Maulidyah Indira Hasmarini

Abstract


The budget deficit is the difference between state revenue and state spending in the same fiscal year. Budget deficits in Indonesia often occur every year, budget deficits that occur are carried out to improve development and people's welfare. The purpose of this research is to identify the strength and direction of Gross Domestic Product (GDP), foreign exchange reserves, total government debt, inflation and the exchange rate on the budget deficit in Indonesia during the 1995-2020 period. The analysis used is Ordinary Least Squares (OLS) regression analysis. The data in this study are time series data obtained from Central Bank of Indonesia, the Central Bureau of Statistics (BPS), the Ministry of Finance of the Republic of Indonesia, the World Bank and the IMF. According to the study's findings, the variables GDP, foreign exchange reserves, total public debt, and exchange rate all significantly affect the budget deficit. In the meanwhile, budget deficit is unaffected by the inflation variable.

Keywords


Gross Domestic Product (PDB), Foreign Exchange Reserves, Total Government Debt, Inflation, Exchange Rate, Ordinary Least Squares (OLS)

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References


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DOI: https://doi.org/10.30596/miceb.v1i0.187

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