The 2023 State Budget Bill Is An Official Law, The Government Is Ready To Continue Inclusive And Sustainable Development

The atmosphere of the DPR's plenary session during the 2023 APBN decision making (Photo: Screenshot of the DPR RI Youtube)

JAKARTA - The DPR has officially approved the Draft Law (RUU) on the 2023 State Revenue and Expenditure Budget (APBN) proposed by the government to become the APBN Law in a plenary session held in the middle of this week.

Minister of Finance (Menkeu) Sri Mulyani in her speech said that fiscal instruments will remain relied on in holding back the various turmoil they face, so that the people can be protected and the momentum of recovery continues.

"Through the support of the state budget, various strategic steps during 2020 to 2022 can continue to be achieved through health management, vaccine delivery policies, social cushion preparation, and stimulus support for affected communities," he said in a written statement quoted on Friday, September 30.

According to the Minister of Finance, the government realizes that next year's fiscal capabilities cannot continue to be forced to work hard considering that there are restrictions on budget deficits that must be adhered to in accordance with applicable regulations.

Therefore, in setting the state revenue target which reached Rp2,463 trillion, it was slightly higher than the initial proposed, but there we have placed caution. That is, if the world economy experiences weakness and the possibility of corrections to commodity prices," he said.

The Minister of Finance added that the challenges and turmoil of the world economy were considered very real and felt in the 2023 RAPBN discussion process. He said, since the government together with the DPR discussed the Macroeconomic Framework and Fiscal Policy Principles last May until decision making, all economic indicators have moved very dynamically.

"Even the movement that occurred was in a high volatility trend," he said.

For the achievement of this agreement, the Minister of Finance appreciates the parliament which has been continuously overseeing the process of drafting the 2023 State Budget.

"The State Budget for Fiscal Year 2023 is certainly expected to be an effective instrument in maintaining the economy and continuing inclusive and sustainable development. Let's together face this year's challenges and next year with a prudent and careful," he said.

The following are the main points of the 2023 State Budget.

1. Consumption of Macroeconomics Basal 2023

· Economic Growth 5.3 percent

· Inflation 3.6 percent

· Exchange Value Rp14,800 per US dollar

· SUN interest rate 10 years 7.9 percent

· Indonesian crude oil Price 90 dollars per barrel

· Lifting crude oil 660,000 barrels per day

· Lifting gas 1.1 million barrels of oil equivalent per day

2. State Revenue (Rp2,463.0 trillion)

· Penerimaan perpajakan Rp2,021,2 triliun

· Non-tax state revenue (PNBP) IDR 441.4 trillion

3. State Expenditure (Rp3,061.2 trillion)

· Central government expenditures IDR 2,246.5 trillion

· Transfer to regions and village funds (TKDD) Rp814.7 trillion

4. Budget Financing/Deficit (Rp598.2 trillion equivalent to 2.84 percent of GDP)