State Revenue Grew in May 2023 Despite a Drop in Customs Receipts

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Cindy Mutia Annur 27/06/2023 16:10 WIB

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Indonesia's Ministry of Finance recorded state revenue reaching Rp 1,209.3 trillion by May 2023, a 13% year-on-year increase. However, customs revenue during this period showed a significant decline.

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

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

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The Indonesian Ministry of Finance recorded that state revenue realization in the 2023 State Budget (APBN) as of May 2023 reached Rp1,209.3 trillion, equivalent to 49.1% of this year's target of Rp2,463 trillion.

"(Revenue realization) shows a 13% growth compared to May 2022's receipts," said Finance Minister Sri Mulyani in an online press conference on Monday (26/6/2023). State revenue realization in the same period last year amounted to Rp1,070.1 trillion.

State revenue is still mainly supported by tax revenue. Recorded tax revenue as of May 2023 reached Rp830.3 trillion, or 48.3% of this year's APBN target of Rp1,718 trillion. This realization also grew by 17.7% year-on-year (yoy).

Next, non-tax state revenue (PNBP) realization grew by 16.2% (yoy) to Rp260.5 trillion at the end of last month. This figure reached 59% of the 2023 APBN target of Rp441.4 trillion.

On the other hand, customs and excise revenue realization decreased in May 2023. “The (customs and excise) realization of Rp118.4 trillion experienced a significant correction of 15.6% (yoy),” said Sri Mulyani.

Customs and excise revenue realization as of May 2023 only reached 39% of this year's APBN target of Rp303.2 trillion.

Sri Mulyani stated several reasons for the negative customs and excise revenue in May 2023 compared to the same period last year.

"The global environment caused commodity price corrections, as seen in our export duties," she said.

Furthermore, according to her, the negative customs and excise revenue was also triggered by a sharp drop in export duties by 67.52% (yoy). The plunge in export duties was caused by lower CPO prices, decreased mineral export volumes, and a reduction in copper export duty rates.

However, Sri Mulyani stated that import duties were still positive at 7.87% (yoy) due to the strengthening of the US dollar and the growth of import duties from major commodities supporting the automotive industry.

Meanwhile, excise revenue fell by 12.73% (yoy) due to sluggish production, especially in Group I.

Excise revenue from tobacco products (CHT) until May 2023 decreased by 12.45% (yoy), reaching Rp89.95 trillion. According to Sri Mulyani, this was due to a decrease in tobacco production in March 2023 compared to the previous year due to the increase in Value Added Tax (VAT) at that time.

State expenditure realization reached Rp1,005 trillion as of May 2023, up 7.1% (yoy) compared to the same period last year, which amounted to Rp938.2 trillion.

The larger state revenue realization compared to expenditure resulted in the APBN recording a surplus of Rp204.3 trillion in May 2023. This surplus is equivalent to 0.97% 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."

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State Revenue Grew in May 2023 Despite a Drop in Customs Receipts

State Revenue Grew in May 2023 Despite a Drop in Customs Receipts

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State Revenue Grew in May 2023 Despite a Drop in Customs Receipts

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