Another Step For The 2022 State Budget Bill To Be Passed, Sri Mulyani: Thank You To The Council For Working Extraordinarily Hard

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA – The government through the Minister of Finance (Menkeu) Sri Mulyani together with the Budget Agency (Banggar) of the DPR agreed on the 2022 State Revenue and Expenditure Budget Bill (RUU APBN).

The Minister of Finance said that the government expressed appreciation for the support of the House of Representatives (DPR) so that the discussion of the 2022 State Budget was completed on time.

"Please allow us on this occasion on behalf of the government to express our gratitude and appreciation to the Chairman, all Deputy Chairmen, Banggar Members, and all board members in all commissions who have worked extraordinarily hard in order to complete the discussion starting from the Macroeconomic Framework and Fiscal Policy Points (KEM PPKF) to the discussion of the RAPBN for the Fiscal Year. 2022," she said in an official statement quoted on Wednesday, September 29.

In her presentation, the Minister of Finance explained that the macro assumptions were arranged in an optimistic but still realistic manner by taking into account the dynamics of the economy.

In detail, the agreed economic growth is 5.2 percent, the inflation rate is 3 percent, the rupiah exchange rate is IDR 14,350 per US dollar, the 10-year Government Bond (SUN) interest rate is 6.82 percent.

Then, the price of Indonesian crude oil is 63 US dollars per barrel, oil lifting is 703.000 barrels per day, and natural gas lifting is 1.03 million barrels of oil equivalent per day.

The development targets that were also agreed were the open unemployment rate 5.5-6.3 percent, the poverty rate 8.5-9 percent, the Gini ratio 0.376-0.378, the human development index 73.41-73.46, the farmer's exchange rate of 103-73. 105, as well as the exchange rate of fishermen 104-106.

In terms of state revenues in 2022, it is projected to increase based on the prospect of economic recovery and strengthening tax reform.

The state revenue budget is planned at IDR 1.846 trillion, consisting of a tax revenue target of IDR 1.510 trillion or IDR 3 trillion higher than the taxation target proposed in the 2022 RAPBN and Non-Tax State Revenue (PNBP) of IDR 335 billion.

Meanwhile, state expenditures for 2022 are planned at IDR 2.714 trillion, consisting of a central government budget of IDR 1.944 trillion and a TKDD budget of IDR 769 trillion.

"The 2022 State Budget will continue to work to protect the Indonesian people from health and life threats, maintain the welfare of the poor and vulnerable, and support the resilience of the business world and MSMEs," said the Minister of Finance.

However, the government is optimistic that gradual fiscal consolidation can be carried out so that the deficit returns to a maximum of 3 percent of GDP in 2023 as mandated by Law 2/2020.

"We continue to monitor the economic recovery and on the other hand continue to make efforts to restore the state budget or fiscal consolidation in 2023," closed the Minister of Finance Sri Mulyani.