APSN Banner

State revenue reaches 96.8% of 2023 target with 12 days remaining

Jakarta Globe - December 19, 2023

BTV, Jakarta – A Finance Ministry official revealed on Tuesday that the cumulative state revenue has reached Rp 2,553.2 trillion ($164.8 billion) year-to-date, amounting to 96.8 percent of the full-year target.

Initially, the figures surpassed the annual target stated in the initial state budget by 103.7 percent. However, President Joko Widodo subsequently issued a decree elevating the target to Rp 2,637.2 trillion.

"Colleagues within the taxation, customs, excise, and budget directorates are actively working to achieve our year-end target," Vice Finance Minister Suahasil Nazara said during a visit to B-Universe Media Holdings in Jakarta. "We are committed to ensuring that we meet our objectives by the year-end."

Recent data from the Finance Ministry indicates that tax revenue amounted to Rp 1,739.8 trillion, which corresponds to 95 percent of the revised target of Rp 1,818.2 trillion.

The customs and excise directorate reported a revenue of Rp 256.5 trillion, representing 85.5 percent of the target.

Non-tax revenue surpassed projections, reaching Rp 554.5 trillion, exceeding the full-year target by 107.5 percent.

Another pressing issue is the underperformance in spending by both the central and regional governments, Suahasil said.

Cumulative spending by ministries, state agencies, and regional governments totaled Rp 2,588.2 trillion, equivalent to 83 percent of the target.

The president has emphasized the necessity for budget spending to reach at least 95 percent of the target by year-end, Suahasil said.

"We will compile a comprehensive report by the end of December, aiming to provide a comprehensive understanding of our budget performance to the public by January 2," the official said.

Source: https://jakartaglobe.id/business/state-revenue-reaches-968-of-2023-target-with-12-days-remainin