Suddenly ‘Durian Collapses’, State Treasury is Abundant, State Budget Surplus!

Jakarta, CNBC Indonesia – The realization of the State Revenue and Expenditure Budget (APBN) until the end of February 2022 recorded a surplus of Rp 19.7 trillion or 0.11% of Gross Domestic Product (GDP).

Meanwhile, the primary balance also recorded a surplus of Rp 61.7 trillion.

“In total, the State Budget has a surplus of Rp. 19.7 trillion, this is an extraordinary reversal compared to last year,” said Finance Minister Sri Mulyani Indrawati in a press conference on our State Budget, Monday (28/3/2022).

Photo: Development of Basic Macroeconomic Assumptions in 2022 (Screenshot of the Ministry of Finance of the Republic of Indonesia Youtube)
Development of Basic Macroeconomic Assumptions in 2022 (Screenshot of the Ministry of Finance of the Republic of Indonesia Youtube)

State spending until the end of February reached 282.7 trillion or 10.4% of the APBN. Ministry of Institutional (KL) spending is Rp. 78.6 trillion, non-KL spending is Rp. 93.6 trillion and transfers to regions and village funds are Rp. 110.5 trillion.

State revenues grew high with the realization of 37.7% to Rp 302.4 trillion. Tax revenues reached Rp. 199.4 trillion or 15.8% of the APBN, growing by 34.5%. Non-oil and gas PPh managed to reach Rp 110.2 trillion, VAT & PPnBM Rp 74.2 trillion, PBB and other taxes Rp 1.5 trillion and Oil and Gas PPh Rp 13.5 trillion.

The customs and excise side as well as non-tax revenues (PNBP) also experienced significant growth, where they grew 59.3% and 22.5%, respectively.

Summary Table of State Budget Realization Posture (screenshot of the RI Ministry of Finance youtube)Photo: Summary Table of State Budget Realization Posture (screenshot of the Ministry of Finance of the Republic of Indonesia youtube)
Summary Table of State Budget Realization Posture (screenshot of the RI Ministry of Finance youtube)

The high revenue is influenced by the increase in commodity prices like a windfall for Indonesia. However, it should also not be forgotten that the economic recovery is still continuing.

“This is an extraordinary reversal. So receipts are strong but spending is restrained looks quite good but this does not describe the whole story of 2022, the journey is still quite long,” said Sri Mulyani.

“On the one hand, our state budget is being rehabilitated, but the state budget is asked to work extraordinarily hard again to protect the public from commodity price shocks through various expenditures such as subsidies,” he concluded.

[Gambas:Video CNBC]

(me/me)


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