JAKARTA - Minister of Finance (Menkeu) Sri Mulyani Indrawati has today submitted the Provisional Post of the Draft Law on the 2023 State Revenue and Expenditure Budget (RUU APBN) to the DPR's Budget Agency.

In the presentation, the Minister of Finance said that there were several assumptions that had changed or remained as stated by President Joko Widodo in his State Speech on August 16, 2022.

The basic consumption of macroeconomics submitted by the President in the 2023 RAPBN and along with his financial notes has been slightly renewed. I received a report from the discussion of Panja A with of course the precautionary notes that need to be agreed upon together," he said at the Senayan Parliament Complex, Jakarta on Wednesday, September 14.

According to the Minister of Finance, the basic assumption of the 2023 APBN macro economy based on the Panja A agreement is that economic growth remains at 5.3 percent, inflation changes originally by 3.3 percent to 3.6 percent, the exchange rate from Rp. 14,750 per US dollar to Rp. 14,800 per US dollar.

Then, the 10-year SUN interest rate remains 7.9 percent, the price of Indonesian crude oil remains 90 US dollars per barrel, oil lifting remains 660 thousand barrels per day, and gas lifting from the original 1.05 million to 1.1 million barrels of oil equivalent per day.

As for various development targets, everything is still the same as stated by the President and agreed by the Banggar DPR. Meanwhile, the details are the poverty rate of 7.5-8.5 percent, the unemployment rate of 5.3 percent to 6.0 percent, the Gini ratio of 0.375 to 0.378, the human development index 73.31 to 73.49, the exchange rate of farmers 105 to 107, and the exchange rate of fishermen 107 to 108.

"There is a slight change in macro assumptions, so in terms of Panja A acceptance, there is also a potential increase in tax revenues and non-tax state revenues (PNBP)," he said.

One of the concerns of the Minister of Finance and the DPR is that the state revenue sector is set to be more aggressive with an increase of IDR 19.4 trillion to IDR 2,463 trillion.

It was explained that the figure consisted of tax revenues (tax revenues of Rp1,718 trillion and excise customs of Rp303.2 trillion) and non-tax state revenues (PNBP) of Rp441.4 trillion.

The increase in state revenue by Rp19.4 trillion was allocated for state spending to Rp3,061.2 trillion from RAPBN Rp3,041.7 trillion.

This state expenditure consists of fixed central government expenditures (ministry/institution) at Rp993.2 trillion and non-K/L expenditures increased by Rp16.4 trillion to Rp1,253.3 trillion.

Then, transfers to regions which also increased by Rp3 trillion to Rp814.7 trillion. For information, the increase in non-K/L expenditures is intended for energy subsidies which rose by Rp1.3 trillion to Rp212 trillion, educational budget reserves increased by Rp3.8 trillion to Rp63.5 trillion, and additional non-education expenditures to Rp11.2 trillion which will be discussed in the spending committee.

Despite the additional use of spending, the 2023 APBN deficit will still be maintained at IDR 598.2 trillion. However, the Minister of Finance said, the percentage of the deficit to GDP changed because the estimated value of Indonesia's economic volume next year reached IDR 21.037.9 trillion. In addition, the primary balance remains the same at IDR 156.8 trillion and the budget financing is the same at IDR 598.2 trillion.

"Thus, the percentage of the 2023 APBN deficit, although the nominal is the same, is IDR 598.2 trillion, but in percentages for GDP it has decreased to 2.84 percent from what we previously proposed 2.85 percent of GDP. So the increase in spending with fixed GDP changes in terms of percentage still decreased," closed the Minister of Finance Sri Mulyani.


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