Ministry Of Finance Ensures CPO Export Ban Will Not Disturb State Revenue

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani said that the CPO export ban policy which was announced some time ago by President Joko Widodo would not have a significant impact on the assumption of state revenues.

The reason is, this rule only applies for less than a month and now the faucet for selling CPO abroad has been reopened.

“In the assumptions that we made and submitted to the DPR, we have included an element of a CPO export ban which is less than one month. So there is no change from our estimated revenue,” he said when giving a statement to reporters at his office on Monday, May 23.

For information, the government through the government through the Ministry of Finance (Kemenkeu) last week submitted to parliament an estimate of state revenue which will increase this year with an increase in outlook of Rp420 trillion.

"This includes a change of IDR 420 trillion and an estimate that exports will return to normal, such as the announcement (opening exports) delivered by the President," he said.

For information, the Ministry of Finance launched that the impact of the CPO export ban on export duty levies was IDR 900 billion in one month. In addition, Indonesia is estimated to lose foreign exchange potential of US$2.2 billion due to this policy.

As for the posture of the state budget, until April 2022 the customs and excise revenue sector recorded a 37.7 percent growth on an annual basis (yoy) to Rp108.4 trillion from the previous Rp78.7 trillion.