Record-Breaking Revenue: State Revenue from Non-Tax State Revenue (PNBP) Soars Due to Commodity Price Surge

The Ministry of Finance reports that non-tax state revenues (PNBP) from natural resources (SDA) have reached a record high in the first half of this year. This is due to the increase in prices of major commodities such as coal and palm oil.

Recorded PNBP SDA receipts reached Rp114.6 trillion until semester I 2022. The details comprise of Rp74.6 trillion from oil and gas SDA, an 86.8% year-on-year (yoy) increase, and Rp40 trillion from non-oil and gas SDA, a 101.8% yoy growth.

"In the first semester of 2022, PNBP from SDA reached an extraordinary record. This increase is much higher than last year's 53% growth," said Finance Minister Sri Mulyani, as quoted by CNN Indonesia on Wednesday (3/8/2022).

According to Sri Mulyani, this condition shows that commodities play an important role in supporting economic recovery. Therefore, when commodity prices are high, state revenue can be maximized.

The large state revenue can be used to finance economic needs, especially recovery from the pandemic. Sri Mulyani stated that additional state revenue from commodities can be used to strengthen the health and social assistance budget.

The windfall from commodity revenue, continued Sri Mulyani, can also be used to prevent further increases in poverty. "Not only from the social health side, but we also need to restore the economy so that poverty decreases and enters the single digits convincingly," said Sri Mulyani.

The state treasurer is optimistic that by the end of the year, SDA PNBP will exceed the PNBP target for this year, which is set in Presidential Regulation 98/2022 at Rp481.6 trillion.