Supported by Tax Revenue, State Revenue Reaches Rp647.2 Trillion in March 2023

Economics & Macro

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Cindy Mutia Annur 18/04/2023 13:44 WIB

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According to the Ministry of Finance's report, state revenue reached Rp647.2 trillion in March 2023. This state revenue was primarily supported by tax receipts.

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

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Supported by Tax Revenue, State Revenue Reaches Rp647.2 Trillion in March 2023

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

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The Ministry of Finance's report shows that state revenue continued its strong performance through the end of the first quarter of 2023.

State revenue reached Rp647.2 trillion in March 2023, a 29% year-on-year (yoy) increase compared to the same period last year. This achievement represents 26.3% of the 2023 State Budget (APBN) revenue target of Rp2,463 trillion.

This state revenue was primarily driven by tax revenue.

"Tax revenue remained strong, reaching Rp432.2 trillion, or 25.2% of the APBN target, and growing by 33.8% yoy," said Minister of Finance Sri Mulyani Indrawati in a virtual press conference on the APBN Kita on Monday (17/4/2023).

Furthermore, customs and excise revenue reached Rp72.2 trillion in March 2023, although it contracted by 8.9% (yoy).

Next, non-tax state revenue (PNBP) surged 43.7% (yoy) to Rp142.7 trillion at the end of last month.

Meanwhile, state expenditure reached Rp518.7 trillion in March 2023, up 5.7% (yoy) compared to the same period last year, which was Rp490.7 trillion.

The larger realization of state revenue compared to expenditure resulted in the APBN recording a surplus of Rp128.5 trillion in March 2023. This surplus is equivalent to 0.61% of the Gross Domestic Product (GDP).

Editor : Padjar Iswara

"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."