Indonesian House of Representatives Chairman, Puan Maharani, Ensures All Factions Approve The 2022 State Budget Bill To Be Passed Into Law

Minister of Finance Sri Mulyani (left) symbolically handed over the ratification of the 2022 State Budget Law with DPR Chair Puan Maharani (Photo: Screenshot of DPR RIO's Youtube)

JAKARTA - The Chairman of the Indonesian House of Representatives, Puan Maharani, stated that all factions in parliament approved the 2022 State Revenue and Expenditure Budget Bill (RUU) to be ratified into law.

"We asked each faction whether the Bill on the State Revenue and Expenditure Budget for Fiscal Year 2022 can be approved and passed into law?", she said at the Parliament Complex shortly before the ratification, Thursday, September 30.

The question was then greeted with an "agree" answer from the participants of the House of Representatives Plenary Meeting.

"Agree!", said Puan, repeating the call of the meeting members while tapping the hammer to signify the ratification of the 2022 State Budget Act.

For information, the government and parliament agreed to ratify next year's state budget with several macro assumptions, namely economic growth was agreed at 5.2 percent, the inflation rate was 3 percent, the rupiah exchange rate was IDR 14,350 per US dollar, the interest rate on Government Securities (SUN) 10 years 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.

Furthermore, the state revenue for 2022 is planned at IDR 1,846 trillion, which consists of a tax revenue target of IDR 1,510 trillion or IDR 3 trillion higher than the tax target proposed in 2022 State Revenue and Expenditure Budget Plan (RAPBN) and Non-Tax State Revenue (PNBP) of IDR 335 billion.

Meanwhile, state expenditures for 2022 are projected to reach IDR 2,714 trillion, consisting of the central government budget of IDR 1,944 trillion and the TKDD (Regional Transfer and Village Funds)budget of IDR 769 trillion.