Indonesia's Ministry of Finance Records Natural Resource Revenue of Rp74.4 Trillion in April 2022

The Ministry of Finance reports that non-tax state revenues (PNBP) from natural resource revenue reached Rp74.44 trillion by the end of April 2022, or 61.04% of the 2022 State Budget (APBN) target of Rp121.95 trillion.

Natural resource revenue realization in April 2022 grew by 122.42% year-on-year (yoy) compared to the same period in 2021, which was Rp33.5 trillion.

This achievement also significantly surpasses natural resource revenue before the Covid-19 pandemic, namely in 2019, which stood at Rp45.7 trillion. Last month's natural resource revenue was also the highest in the last six years.

This realization comes from oil and gas (migas) and non-oil and gas (non-migas) natural resource revenue.

Realization of oil and gas natural resource revenue up to April 30, 2022, reached Rp49.43 trillion, or 57.55% of the 2022 APBN target. This realization grew by 129.42% (yoy) from the same period in 2021.

Meanwhile, the realization of non-oil and gas natural resource revenue up to April 30, 2022, amounted to Rp25.01 trillion, or 69.36% of the 2022 APBN target. This achievement also grew by 109.76% (yoy) compared to the previous year.

Quoting the May edition of APBN Kita, this positive performance is mainly influenced by the increase in commodity prices, especially global and domestic crude oil, mineral, and coal prices, due to the impact of the Russia-Ukraine conflict.

The Ministry of Finance notes that the average Indonesian Crude Price (ICP) from December 2021 to March 2022 was US$92.12 per barrel, or a 63.90% increase compared to the same period the previous year.