Strengthen National Economic Resilience, Ministry Of Finance Urges DHE SDA To Require Domestic Savings Amid Iran-Israeli Conflict

Deputy Minister of Finance (Wamenkeu) Suahasil Nazara. (Photo: Aris Nurjani/VOI)

Deputy Minister of Finance (Wamenkeu) Suahasil Nazara conveyed to the government to exporters to ensure that they bring home the Natural Resources Export Results Fund (DHE SDA) and are stored domestically so that it can increase Indonesia's economic resilience amid global uncertainty triggered by the conflict between Iran and Israel.

"If he (DHE SDA) comes home, it will strengthen Indonesia's economic defense," he said at the office of the Coordinating Ministry for the Economy, Thursday, April 18.

Suahasil said, if DHE SDA which is stored domestically for a long time will get various conveniences such as obtaining an exemption from deposit interest tax and incentives.

"We are given this incentive so that our DHE comes because we export quite a lot of commodities," he said.

For information, the DHE SDA placement rules are regulated in Government Regulation (PP) No. 36/2023 concerning Export Result Foreign Exchange (DHE) concerning DHE from business activities, management, and/or natural resources processing.

Based on the regulation, exporters will be subject to administrative sanctions in the form of stopping export activities for business actors if they do not place DHE in the country.

Exporters are required to enter and place DHE into Indonesia's financial system with special accounts. If exporters already have an emergency account abroad, they are obliged to move to Indonesian financial instruments.

The placement of domestic DHE SDA is at least 30 percent with a maximum period of three months.

In PMK No. 73/2023, derivative rules from PP No. 36/2023, it is stated that the government imposes sanctions in the form of stopping all export services for exporters who do not comply.