Tax Revenue Soars, State Revenue Realization Reaches Rp302.4 Trillion

The Indonesian Ministry of Finance (Kemenkeu) recorded that Indonesia's state revenue reached Rp302.4 trillion (approximately US$20.7 billion) by February 2022. This figure shows a 37.7% increase compared to the same period in the previous year, which was Rp219.6 trillion (approximately US$15 billion).

This state revenue realization only reached 16.38% of the 2022 State Budget (APBN) target. Note that the state revenue target in this year's APBN is Rp1,846.1 trillion (approximately US$126 billion).

In detail, the realization of state revenue from tax receipts was the most significant, reaching Rp199.4 trillion (approximately US$13.7 billion) in February 2022. This amount increased by 36.5% compared to the previous year's Rp146.1 trillion (approximately US$10 billion).

Next, the realization of non-tax state revenue (PNBP) was recorded at Rp46.2 trillion (approximately US$3.2 billion) in February 2022. This amount increased by 22.5% compared to the same period in the previous year, which was Rp37.7 trillion (approximately US$2.6 billion).

Meanwhile, the realization of state revenue from customs and excise duties was recorded at Rp56.7 trillion (approximately US$3.9 billion). This amount increased by 59.3% compared to the same period in the previous year, which was Rp35.6 trillion (approximately US$2.4 billion).

Furthermore, the realization of state expenditure reached Rp282.7 trillion (approximately US$19.4 billion) as of February 2022. This value decreased slightly by 0.1% from 2021, which reached Rp282.9 trillion (approximately US$19.4 billion).

The larger state revenue compared to state expenditure resulted in Indonesia achieving an APBN surplus in February 2022. The recorded APBN surplus was Rp19.7 trillion (approximately US$1.3 billion), equivalent to 0.11% of the Gross Domestic Product (GDP).