Coordinating Minister Airlangga Reveals Revision Of Natural Resources DHE Rules Targeted To Be Completed Next Year

Coordinating Minister for Economic Affairs (Menko) Airlangga Hartarto. (Photo: Doc. ANTARA)

Coordinating Minister for Economic Affairs Airlangga Hartarto said the revision of the Natural Resources Export Result Foreign Exchange (DHE SDA) rules is targeted to be completed in January 2025.

"The frame time may be about a month from now," said Airlangga as quoted by ANTARA, Friday, December 20.

He explained that the weakening of the rupiah currency was one of the reasons the Government would revise the DHE SDA rules.

"The strengthening of the dollar is the strongest in the last two months. I said earlier that Indonesia's depreciation (rupiah) is still higher than Korea, Japan, Turkey, and several other countries. We are talking aboutyear to date. So of course this is a global phenomenon. Well of course, if it is a global phenomenon, we must maintain the fundamentals of the economy," he said.

It is known that the rupiah exchange rate (exchange rate) is experiencing depreciation of up to Rp. 16,222 per United States (US) dollar.

Airlangga said that his party was reviewing the DHE SDA regulations.

However, he was reluctant to reveal the details of the changes to the regulation.

Later, these rules will be issued in the form of Government Regulations (PP), Minister of Finance Regulations (PMK), Bank Indonesia Regulations (PBI) and OJK Regulations (POJK).

Airlangga assessed that the DHE SDA regulation which currently requires exporters to store DHE SDA at least 30 percent in the Indonesian financial system has contributed quite well in increasing the country's foreign exchange.

"It's almost 90 percent compliance and it is estimated that by the end of the year (addition of foreign exchange) will be around 14 billion US dollars. Well of course we will intensify it again," he explained.

The rules regarding DHE SDA are currently still regulated in Government Regulation (PP) Number 36 of 2023.

In this regulation, exporters are required to include DHE SDA into the Indonesian financial system through the Special Account of DHE SDA at a bank that carries out business activities in foreign currencies.

The placement of the DHE SDA must be carried out no later than the end of the third month after the registration month of export customs notices. The stored DHE SDA can be used to pay output duties, export levies, imports, loans, profits or dividends, and other purposes for investment.