PNBP July 2024 Only IDR 338 Trillion, Sri Mulyani Reveals Due To Coal Price Moderation And Oil Lifting

Minister of Finance Sri Mulyani Indrawati. (Photo: Doc. ANTARA)

JAKARTA - The Ministry of Finance (Kemenkeu) noted Non-Tax State Revenue (PNBP) of IDR 338 trillion until July 2024 or a contraction of 3.3 percent year on year (yoy).

Minister of Finance Sri Mulyani Indrawati conveyed that Non-Tax State Revenue (PNBP) of IDR 338 trillion as of July 2024, or equivalent to 68.7 percent of the target set in the 2024 State Revenue and Expenditure Budget (APBN) of IDR 492 trillion.

Sri Mulyani explained that one of the reasons for the decline in PNBP deposits was influenced by the moderation of coal prices and the realization of petroleum lifting.

"What contributes, if we compare it with last year's lower, yes, because last year it was very high because SDA is good for non-oil and gas oil and gas," Sri Mulyani said in a press conference on our State Budget, quoted Wednesday, August 14.

According to Sri Mulyani, the decline in PNBP deposits came from the side of the Oil and Gas Natural Resources (SDA) PNBP which was only IDR 64.5 trillion in July 2024 or equivalent to 58.6 percent of the 2024 State Budget target.

This amount, down 6.4 percent when compared to the previous year which amounted to Rp68.9 trillion.

"Because we all know that from oil and gas, our lifting has dropped, although the price has increased slightly and the shrinkage from the production capacity of each well. This is a huge homework for the ESDM and SKK Migas (Migas)", he said.

Meanwhile, non-oil and gas SDA Sri Mulyani said that until July 2024 it was Rp68.4 trillion or 70.1 percent of the target in the 2024 State Budget. Or it fell 21.8 percent when compared to last year's Rp87.4 trillion.

Sri Mulyani said that the contraction in the realization of non-oil and gas SDA PNBP was due to the moderation of coal prices, and the decrease in the volume of coal production.

"The price of international coal greatly affects our acceptance," he explained.

Meanwhile, other PNBPs originating from state assets separated or dividend payments from SOEs amounted to Rp68.3 trillion or 79.6 percent of the target in the 2024 State Budget. Or an increase of 13.4 percent when compared to July 2023 which was only Rp60.2 trillion.

Sri Mulyani said that this dividend deposit mainly came from Banking SOEs which experienced an increase in financial performance.

Furthermore, other PNBPs were recorded at IDR 86.2 trillion or 74.8 percent of the target in the 2024 APBN. Or a decrease of 10.5 percent compared to last year's IDR 96.2 trillion.

Sri Mulyani explained that the decline was influenced by mining revenues in line with the moderation of coal prices and production volume.

In addition, there is a decrease in the PNBP of ministries or institutions (K/L) due to non-repetitive income in 2024.

On the other hand, PNBP from the Public Service Agency (BLU) is IDR 50.7 trillion or 60.8 percent of the target in the 2024 State Budget. Or grew 18.2 percent compared to last year's IDR 42.9 trillion.

"So this is BLU that increases education, hospitals, and also BLUs such as at the Ministry of Law and Human Rights for passport visas, then the police for STNK and SIM, all of them get their BLU managed income and BLU which has a significant influence from inside this BLU is palm oil," he said.

"We all know that oil palm is still under pressure, so if we look at it even though oil palm is down, other BLUs are still rising. So if the total BLU revenue is still growing by 18.2 percent," he added.