The 2022 Period Is Only Six Months, Sri Mulyani Is Optimistic That State Revenues Will Exceed The Target

JAKARTA – The brilliant performance of the State Budget will continue until the close of the first half of 2022 with a surplus of IDR 73.6 trillion.

The government through the Ministry of Finance is even optimistic that state revenue for this year will exceed the target, as stated in Presidential Regulation (Perpres) Number 98 of 2022 concerning Amendments to Presidential Regulation 104/2021 concerning Details of the State Revenue and Expenditure Budget for Fiscal Year 2022.

"This estimate is based on the realization of each component of state income which shows growth in the first semester of 2022," said the Minister of Finance (Menkeu) during a working meeting with the DPR Banggar some time ago.

So what state revenues have increased this year?

In terms of tax revenues, it was recorded that it had managed to collect Rp. 868.3 trillion or 58.5 percent of the target of Rp. 1,485 trillion. This achievement grew 55.7 percent from last year.

The condition is claimed to show very significant growth, supported by growth in net revenue per tax type and growth per sector, all of which show an increase.

"We estimate that tax revenues will reach Rp1,608 trillion. This means that growth is still above 25 percent by the end of the year compared to last year. This is a new baseline,” said the Minister of Finance.

Meanwhile, the realization of customs and excise reached Rp. 167.6 trillion or 56.1 percent of the target of Rp. 299 trillion. This result was supported by excise duty which grew 33 percent and import duty grew by 30.5 percent, although there was an anomaly in export duties due to the ban on CPO exports. By the end of the year, customs and excise revenues are expected to reach Rp316.8 trillion.

Then the non-tax state revenue (PNBP) is projected to reach Rp510.9 trillion at the end of the year. This estimate is supported by the realization of PNBP in the first semester of 2022, which is Rp. 281 trillion or 58.3 percent of the target of Rp. 481.6 trillion.

Meanwhile, green PNBP report cards are mostly contributed by natural resources (SDA) of oil and gas, which has a very dominant growth of 86.6 percent. Then, other non-tax revenues also increased, except from BLU revenues which contracted due to the policy of a temporary ban on CPO exports.