Sri Mulyani: State Revenue Reaches Rp1.829 Trillion by August 2023

Economics & Macro

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Cindy Mutia Annur 21/09/2023 16:40 WIB

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Finance Minister Sri Mulyani Indrawati stated that state revenue realization reached Rp1.829 trillion as of August 2023.

Indonesia's State Revenue Realization (August 2022-August 2023)

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Sri Mulyani: State Revenue Reaches Rp1.829 Trillion by August 2023

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Indonesia's State Revenue Realization (August 2022-August 2023)

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Finance Minister Sri Mulyani Indrawati stated that the realization of state revenue in the State Budget (APBN) reached Rp1,829 trillion as of August 2023. This figure shows a 3.2% year-on-year (yoy) growth compared to the previous year's realization.

"This means that 74% of the state revenue target has been realized," said Sri Mulyani in a press conference on the State Budget, Wednesday (20/9/2023). The target for state revenue in the 2023 APBN is Rp2,463 trillion.

Indonesia's state revenue realization is still supported by tax revenue, which has reached Rp1,247 trillion. This realization grew by 6.4% year-on-year (yoy), but slowed down compared to the growth rate in August 2022, which reached 58.1% (yoy).

According to Sri Mulyani, the performance of tax revenue as of August 2023 slowed down mainly due to the decline in commodity prices, import value, and the non-recurrence of the Voluntary Disclosure Program (PPS).

Meanwhile, the realization of customs and excise revenue was recorded at Rp171.6 trillion. This figure decreased by 16.8% year-on-year (yoy) due to the weakening CPO price and a sharp drop in mineral exports.

Finally, state revenue was also driven by Non-Tax State Revenue (PNBP), which reached Rp402.8 trillion or increased by 4.3% year-on-year (yoy). This realization has reached 91.3% of the APBN target of Rp441.4 trillion, mainly supported by revenue from the non-oil and gas natural resources sector and separated state assets.

On the other hand, the realization of state expenditure as of August 2023 amounted to Rp1,674.7 trillion, showing a slight increase of 1.1% (yoy) compared to the same period last year, which was Rp1,656.8 trillion.

The larger realization of revenue compared to expenditure resulted in Indonesia's APBN recording a surplus of Rp147.2 trillion in August 2023. This surplus is equivalent to 0.7% of the Gross Domestic Product (GDP).

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."