Energy Subsidies Set to Rise to Rp 186.9 Trillion in 2024

Economics & Macro

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Erlina Fury Santika 18/01/2024 15:07 WIB

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The Ministry of Energy and Mineral Resources (ESDM) has set a target of Rp186.9 trillion for energy subsidies in 2024. This is an increase from Rp159.6 trillion realized in 2023.

Energy Subsidy Components and Totals (2015-2024)*

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Energy Subsidies Set to Rise to Rp 186.9 Trillion in 2024

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Energy Subsidy Components and Totals (2015-2024)*

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The Ministry of Energy and Mineral Resources (ESDM) has set a target of Rp186.9 trillion for energy sector subsidies in 2024.

This comprises Rp113.3 trillion for fuel (BBM) and LPG subsidies, and Rp73.6 trillion for other energy subsidies.

This target is a 17.10% increase from the unaudited 2023 realization of Rp159.6 trillion. The 2023 realization details include Rp95.6 trillion for BBM and LPG subsidies and Rp64 trillion for electricity subsidies.

Acting Director General of Minerals and Coal, Bambang Suswantono, stated that the 2024 subsidy target has been increased as a precautionary measure against potential surges in raw material prices, particularly crude oil.

"We hope for global changes that can have a positive impact on saving our domestic subsidies," said Bambang in Jakarta on Tuesday (16/1/2024).

According to the report on *2023 Performance Achievements and 2024 Work Program of the Minerals and Coal Sub-sector*, the 2023 achievement exceeded the set target.

The 2023 subsidy target was Rp145.3 trillion, consisting of Rp74.8 trillion for BBM and LPG subsidies and Rp70.5 trillion for electricity subsidies.

Over the past decade, the realization of subsidies has fluctuated. The highest was in 2022 at Rp174.4 trillion (Rp115.6 trillion for BBM and LPG, and Rp58.5 trillion for electricity). The lowest realization was in 2017 at Rp92.7 trillion (Rp47 trillion for BBM and LPG, and Rp45.7 trillion for electricity).

(See also: [Exceeding Target, ESDM Sector Revenue Reaches Rp300 Trillion in 2023](https://databoks.katadata.co.id/datapublish/2024/01/16/lampaui-target-pnbp-sektor-esdm-tembus-rp300-triliun-pada-2023))

Editor : Erlina Fury Santika

"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."