State Revenue Reaches Rp419 Trillion, Majority from Taxes

Economics & Macro

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Cindy Mutia Annur 15/03/2023 18:32 WIB

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Based on the Ministry of Finance's report, state revenue realization reached Rp419.6 trillion in February 2023, mostly from taxes.

Indonesia's State Revenue Realization (February 2022–February 2023)

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State Revenue Reaches Rp419 Trillion, Majority from Taxes

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Indonesia's State Revenue Realization (February 2022–February 2023)

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Indonesia's State Revenue and Expenditure Budget (APBN) performance showed positive results in February 2023. This occurred despite global conditions still facing increased geopolitical pressures, high inflation and interest rates, and financial market volatility.

According to the Ministry of Finance's report, state revenue reached Rp419.6 trillion in February 2023. This realization increased by 38.7% from February of the previous year (year-on-year/yoy).

This realization has reached 17% of this year's APBN target of Rp2,463 trillion. "State revenue is mainly supported by tax revenue," said Minister of Finance Sri Mulyani Indrawati on her official Instagram account @smindrawati, Tuesday (March 14, 2023).

Tax revenue realization in February 2023 grew by 40.4% (yoy) to Rp280 trillion. Meanwhile, customs and excise revenue reached Rp53.3 trillion, although it contracted by 6.1% (yoy).

Furthermore, non-tax state revenue (PNBP) increased by 86.6% (yoy) to Rp86.4 trillion.

On the other hand, state expenditure realization reached Rp287.8 trillion in February 2023, a slight increase of 1.8% (yoy) compared to the same period last year, which was Rp282.7 trillion.

The larger realization of state revenue compared to expenditure resulted in the APBN recording a surplus of Rp131.8 trillion in February 2023. This figure is equivalent to 0.63% 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."