The Coordinating Ministry for the Economy is Optimistic that DHE Will be Able to Add USD 60 Billion in Foreign Exchange per Year

Photo: Doc. Antara

JAKARTA - Secretary of the Coordinating Ministry for Economic Affairs Susiwijono Moegiarso is optimistic that funds originating from Export Proceeds (DHE) will be able to increase foreign exchange savings of up to 60 billion US dollars per year.

The rules regarding DHE have been stated in Government Regulation Number 36 of 2023 or Government Decree (PP) 36/2023.

"We are still calculating this year with the same pattern even though export growth has slowed down, then around USD 60 billion is being retained," he said in a press conference at the Office of the Coordinating Ministry for Economic Affairs, Jakarta, quoted from Antara, Tuesday, August 15.

He explained that this potential is based on the export value pattern of Natural Resources (SDA), especially those that are included in the mandatory DHE sector according to PP 36/2023.

These various sectors, including mining, plantations, forestry, and fisheries, whose export value reached USD 203 billion, out of 2022's total exports of USD 292 billion.

His party is optimistic that they can reap this potential in line with export performance which has continued to increase last year, compared to the value of exports during the pre-COVID-19 pandemic which was in the range of USD 170 to 180 billion per year.

"Now (exports) average more than 270 to 290 billion US dollars (per year)," he said.

He revealed that the biggest contributor to DHE was still from the mining sector, around 44 percent, or around 129 billion US dollars, most of which came from coal, nearly 36 percent from the mining sector.

Then, from the plantation sector, it amounted to USD 55.2 billion or the equivalent of 18 percent, with the largest contributor of the palm oil commodity amounting to USD 27.8 billion or the equivalent of 50.3 percent of the total plantation exports.

Then, the forestry sector contributed USD 11.9 billion or the equivalent of 4.1 percent with the largest being the pulp and paper industry, and the fisheries sector contributed USD 6.9 billion or the equivalent of 2.4 percent with the largest contributor coming from the shrimp sector.