Indonesia Books IDR 301.42Tn State Revenues per February, Minister Reports

TEMPO.CO, Jakarta - Finance Minister Sri Mulyani Indrawati said that the performance of state revenue, which includes taxes, customs and excise, as well as non-tax state revenues (PNBP), continues to improve. As of February 2022, the realization of state revenues and grants was recorded at IDR 302.42 trillion or 16.38 percent of the target of the 2022 State Revenue and Expenditure Budget.

"Compared to February last year, when the realization was IDR 219 trillion, this was an increase of 37.7 percent," Sri said in a press conference on Monday, March 28, 2022.

At the end of February, the Finance Ministry recorded tax revenues of IDR 199.4 trillion, a 36.5 percent increase. The figure reached 15.77 percent of the 2022 state budget target.

The growth was supported by the economic recovery as seen through industrial expansions, commodity prices development, as well as export and import performances.

The manufacturing sector was still the largest contributor to tax revenue with a share of 29.1 percent. Customs and Excise revenues are next with IDR 56.7 trillion or 23.2 percent of the state budget target.

The Finance Minister said that the state revenue illustrates two things. "First is a fairly strong economic recovery across several sectors and types of taxes and revenues. The second is the soaring global prices of commodities that have contributed."

The state revenue performance was also supported by the non-tax posts, which grew 22.55 percent to IDR 46.2 trillion as of February 2022, reaching 13.8 percent of the 2022 state budget target. Non-tax revenues' performance was mainly supported by natural resource revenues (SDA)—both oil/ gas and non-oil/gas as well as revenues from Public Service Agencies (BLU).

FAIZ ZAKI