Government And DPR Agree On Temporary Posture For 2022 State Budget: State Revenue Increases By IDR 5.5 Trillion

Illustration (Photo: Doc. Antara)

JAKARTA - The government through the Ministry of Finance (Kemenkeu) reports that there has been a temporary agreement with the DPR RI Budget Agency (Banggar) regarding the 2022 State Revenue and Expenditure Budget (APBN).

In today's working meeting, which was not publicly broadcast, the initial commitment of several basic assumptions for next year was reached.

First, agreeing on economic growth of 5.2 percent year-on-year (yoy). Then inflation is 3 percent (yoy), the rupiah exchange rate is Rp. 14,350 per US dollar, the 10-year SBN interest rate is 6.8 percent, the price of Indonesian crude oil is 63 US dollars per barrel.

Then, oil lifting is 703,000 barrels per day, and gas lifting is 1.03 million barrels of oil equivalent per day.

Meanwhile, the development target for 2022 is agreed as follows, the poverty rate is 8.5-9.0, the unemployment rate is 5.5-6.3, the Gini ratio is 0.376-0.378.

Furthermore, the human development index is 73.41-73.46, the farmer's exchange rate is 103-105, and the fishermen's exchange rate is 104-106.

One thing that is interesting is that the projected state revenue for next year is believed to increase from the previous basic assumption as stated by the President in the Plenary Session last August.

"The target of state revenue in the temporary posture of the 2022 State Budget is IDR 1,846.1 trillion. This target is an increase of Rp. 5.5 trillion from the 2022 RAPBN," said Chairman of the Banggar DPR Said Abdullah in his statement as reported on the official website of the Ministry of Finance, Tuesday, September 14.

It is planned that the increased funds will be allocated to a number of sectors.

"The additional use is for state expenditures of Rp. 5.5 trillion for additional mandatory education expenditures of Rp. 1.1 trillion and additional non-educational expenditures of Rp. 4.4 trillion, including ESDM, industry, health, then ICT and others," said Said.

For information, in the provisional posture of the 2022 APBN, it was agreed that state revenues were Rp. 1,846.1 which consisted of tax revenues of Rp. 1,510 trillion from tax revenues of Rp. 1,265 trillion and customs and excise revenues of Rp. 245 trillion and non-tax revenues of Rp. 335.6 trillion.

In terms of state spending, it was recorded at Rp.2,714.2 trillion, consisting of central government expenditures of Rp.1,943.7 trillion and transfers to regions and village funds of Rp.770.4 trillion.

Thus, the budget deficit is Rp. 868 trillion or 4.85 percent of gross domestic product (GDP) and the primary balance is Rp. 462.2 trillion.