Commodity Boom Over, Sri Mulyani Predicts PNBP Next Year To Drop 6.7 Percent

A worker is seen processing palm oil (Photo: Doc. Antara)

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani revealed that the condition of increasing commodity prices throughout this year will begin to end next year.

"This year there is indeed a commodity boom, while next year it will not be repeated," he said during a working meeting with the DPR RI Budget Board which was broadcast virtual, Wednesday, August 25.

According to him, the commodity boom phenomenon was triggered by the need for certain countries for certain natural resources to resume production activities after being under pressure due to the COVID-19 pandemic. This condition causes an increase in demand accompanied by an increase in prices.

The Minister of Finance said, Indonesia as one of the leading global commodity exporting countries will benefit from this situation. As a result, the Non-Tax State Revenue sector or more often abbreviated as PNBP, experienced a fairly good increase this year compared to the 2020 period.

Citing data released by the Ministry of Finance, until the close of the first semester of 2021, the total PNBP levies that have been collected reached Rp206.9 trillion from the APBN target of Rp298.2 trillion. Just so you know, books in the first half grew 3.9 percent from the same period in 2020.

In fact, in a virtual press conference held yesterday, the Minister of Finance is optimistic that the 2021 PNBP can exceed the target, which is 119.8 percent or equivalent to Rp357.2 trillion.

The opposite condition is projected to occur in 2022. The government even chooses to be realistic with a smaller value than the 2021 outlook.

"Our PNBP next year is very conservative with a target of IDR 333.2 trillion or a contraction of 6.7 percent," he said.

For information, apart from PNBP, other instruments that are also a source of state revenue are taxes and customs and excise.

In the 2021 APBN Law, the tax sector is targeted to generate IDR 1,229.6 trillion. Meanwhile, customs and excise amounted to Rp. 215 trillion. The total of these three items later became a supporter of state revenue which amounted to Rp.1,743.6 trillion.