Indonesia Records $2 Billion Budget Surplus in January

[Indos]

1. Government foreign debt in Q1 2022 is decreasing about 5 billion USD from Q 4 2021
2. 2022 State Budget Revision is approved by Parliament
3. Government spending is increased as government revenue is expected to increase as well. Majority of the additional spending goes to energy subsidy, the rest is for social welfare and education.
4. 2022 Budget deficit will be 4.5 % of GDP, from previous planning to get it at 4.8 % of GDP
Electricity bill for household with 3000 volt and more will not get subsidy

 

[Indos]

Vehicles await shipment at Patimban Port in Subang, West Java, on December 17, 2021. The newly-built port marked its first major export shipment with the delivery of over 1,200 vehicles to the Philippines. (Antara Photo/Dedhez Anggara)

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State Revenue Jumps by 46 percent​

BY :HERMAN
MAY 23, 2022


Jakarta. The government on Monday reported a 45.6 percent rise in state revenue in the first four months of the year to result in a more than Rp 100 trillion surplus in the state budget as the country begins to see signs of economic recovery with the Covid-19 pandemic fading away.

State revenue totaled Rp 853.6 trillion from January through April, representing 46 percent of the targeted revenue of Rp 1,846.1 trillion for 2022.

“State revenue as of April 2022 grew by 45.9 percent year-on-year. The growth is remarkable because we also saw a 32.1 percent rise last month, meaning that we are gaining pace,” Finance Minister Sri Mulyani Indrawati said at a news conference in Jakarta.

According to government data, tax revenues surged by 51.5 percent to Rp 567.7 trillion; income from excise and import duties rose by 37.7 percent to Rp 108.4 trillion, and non-tax revenues saw a 35 percent rise to Rp 177.4 trillion.

“The positive trend of state revenue will continue, supported by commodity prices, export and import activities, as well as recovery in household consumption. State revenue is expected to continue to grow as economic activities are returning to normal,” she added.

State spending has reached a total of Rp 750.5 trillion during the past four months, a slight increase of 3.8 percent on total spending in the same period of last year.

Central government spending totaled Rp 508 trillion while financial transfer to regional governments amounted to Rp 242.4 trillion.

Sri Mulyani said government spending will grow significantly in the coming months due to an increase in fuel subsidy amid soaring oil prices and expenses in the social assistance programs.

“The primary balance [of the state budget] was positive at Rp 220.9 trillion, a leap from last month’s Rp 94.7 trillion surplus. Please note that last year the primary balance suffered a Rp 36.5 trillion deficit,” she said.

“Overall our state budget enjoys a surplus of Rp 103.1 trillion, compared to a deficit of Rp 138.2 trillion last year.”

State Revenue Jumps by 46 pct

The Indonesian state budget enjoys a surplus of Rp 103.1 trillion, compared to a deficit of Rp 138.2 trillion last year.

jakartaglobe.id

 

[Mahmood-ur-Rehman]

Indonesia Records $2 Billion Budget Surplus in January​

View attachment 817755
Sri Mulyani Indrawati, Indonesia Finance Minister



Tuesday, 22 February 2022 / 19:28 WIB

KONTAN.CO.ID - JAKARTA. Indonesia booked a $2 billion budget surplus in January as tax revenues soared amid a stronger economic recovery from the pandemic and high commodity prices, its finance minister said on Tuesday.

Sri Mulyani Indrawati said the surplus underscored Indonesia's sound fiscal position and reaffirmed other economic indicators showing the recovery in Southeast Asia's largest economy has continued this year, after GDP growth accelerated to 5% in the final quarter of 2021.

She expected GDP growth of within 4.8% to 5.5% range this year, versus 3.7% in 2021.

Read Also: Oil Hits Highest Since 2014 on Russia-Ukraine Escalation

The strong budget performance also meant the government was on track to reduce pandemic-era fiscal stimulus and reinstate a fiscal deficit ceiling of 3% of GDP next year, the minister said.

Overall revenues rose 54.9% on a yearly basis in January to 156 trillion rupiah ($10.86 billion), with tax collection up 65.6%, she said, adding the government also received additional income from a tax amnesty running from January to June.

The government spent 127.2 trillion rupiah last month, down 13% from a year ago, bringing the budget to a surplus of 28.9 trillion rupiah or 0.16% of GDP, Sri Mulyani said.

That compared with a deficit of 45.5 trillion rupiah in January 2021.

Read Also: Aluminium, Nickel Hit Multi-Year Peaks as Ukraine Tensions Intensify

The government repaid more bonds than it issued in January, resulting in a net negative issuance of 15.9 trillion rupiah, Sri Mulyani said, adding that it could cut this year's bond issuance plans further by using carry-over cash from last year.

The ministry has received parliamentary approval to sell 991.3 trillion rupiah of bonds this year, not including refinancing and buybacks, assuming a budget deficit of 4.85% of GDP throughout the year.

Sri Mulyani previously said the 2022 deficit could shrink closer to 4%. She did not offer a new forecast on Tuesday.

Indonesia Records $2 Billion Budget Surplus in January

Indonesia booked a $2 billion budget surplus in January as tax revenues soared amid a stronger economic recovery.

english.kontan.co.id

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This happen in the month of January when we even ban our coal export, Alhamdulillah

We are surplus in thugs

 

[Indos]

We are surplus in thugs

You still need to support current government for the sake of Pakistan economic situation, let solve the dispute in next election and every body will be happy. Stability is important for the economic advancement.

 

[Mahmood-ur-Rehman]

You still need to support current government for the sake of Pakistan economic situation, let solve the dispute in next election and every body will be happy. Stability is important for the economic advancement.

Country was stable thugs brought to make the destabilize country American slaves will stabilize PAKISTAN the last thing on earth

You still need to support current government for the sake of Pakistan economic situation, let solve the dispute in next election and every body will be happy. Stability is important for the economic advancement.

Country was stable thugs brought to make the destabilize country American slaves will stabilize PAKISTAN the last thing on earth

 

[Indos]

List of 10 Countries who give the Biggest Debt to Indonesia, Is there China?​

NEWS - Cantika Adinda Putri, CNBC Indonesia
26 May 2022 06:20

Jakarta, CNBC Indonesia - Indonesia's External Debt (ULN) in the first quarter of 2022 reached US$ 411.5 billion. This is equivalent to IDR 6,007.9 trillion (exchange rate of IDR 14,600/US$).

Compared to the previous quarter, Indonesia's external debt experienced a decline. In the fourth quarter of 2021, Indonesia's external debt stood at US$ 415.7 billion or equivalent to Rp 6,069.2 trillion.

"This development was caused by a decline in the position of external debt in the public sector (Government and Central Bank) and the private sector," said BI in a written statement quoted on Thursday (26/5/2022).

On an annual basis, the position of external debt in the first quarter of 2022 contracted by 1.1% (yoy). Deeper than the contraction in the previous quarter of 0.3% (yoy).

The government's external debt position in the first quarter of 2022, continued the BI report, was US 196.2 billion. Down from the previous quarter's position of US$ 200.2 billion.

On an annual basis, growth in government external debt contracted by 3.4% (yoy). This is also deeper than the 3% (yoy) contraction in the previous quarter.

The decline occurred in line with several maturing series of Government Securities (SBN), both domestic SBN and foreign currency SBN. This is also related to the net repayment of loans maturing during the period January to March 2022, most of which are bilateral loans.

In addition, the high volatility in global financial markets also influenced the shift in investment in domestic government securities to other instruments. Thus reducing the share of ownership of non-resident investors in domestic SBN.

"Withdrawal of external debt in the first quarter of 2022 is still prioritized to support the Government's priority spending, including efforts to deal with Covid-19 and the National Economic Recovery (PEN) program," the BI report added.

BI noted that 51% of Indonesia's external debt came from resident creditors from various countries, with the largest debt coming from Singapore. Here's the complete list:

1. Singapore at US$ 60.9 billion
2. United States at US$ 31.8 billion
3. Japan at US$ 25.8 billion
4. China at US$ 22 billion
5. Hong Kong at US$ 16.8 billion
6. South Korea at US$ 6.3 billion
7. The Netherlands at US$ 5.3 billion
8. Germany at US$ 5.2 billion
9. France at US$ 3.9 billion
10. England at US $3.8 billion

Daftar 10 Negara Pemberi Utang Terbesar RI, Ada China?

Berikut 10 negara yang memberikan utang terbesar ke Indonesia hingga Kuartal I-2022:

www.cnbcindonesia.com

 

[tonyget]

1. Singapore at US$ 60.9 billion
2. United States at US$ 31.8 billion
3. Japan at US$ 25.8 billion
4. China at US$ 22 billion
5. Hong Kong at US$ 16.8 billion
6. South Korea at US$ 6.3 billion
7. The Netherlands at US$ 5.3 billion
8. Germany at US$ 5.2 billion
9. France at US$ 3.9 billion
10. England at US $3.8 billion

Daftar 10 Negara Pemberi Utang Terbesar RI, Ada China?

Berikut 10 negara yang memberikan utang terbesar ke Indonesia hingga Kuartal I-2022:

www.cnbcindonesia.com

No IMF，ADB etc ？

 

[Indos]

No IMF，ADB etc ？

There is, but small. Mostly we issue bonds to get financing, whether state bond ( SBN ) or companies bonds.

Singapore is financial center in South East Asia, so no wonder many Indonesian bond investors come from there, I think mostly institution investors like banks.

 

[Indos]

Sri Mulyani Indrawati asks Parliament to allow government to disburse 37 billion USD for subsidy for this 2022 fiscal period to tame inflation.


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Tahan Harga BBM & Listrik, Sri Mulyani Kucurkan Rp 520 T​

NEWS - Cantika Adinda Putri, CNBC Indonesia
31 May 2022 11:15

Tahan Harga BBM & Listrik, Sri Mulyani Kucurkan Rp 520 T

Pemerintah harus menanggung dana sebesar Rp 520 triliun demi harga BBM dan listrik tak naik.

www.cnbcindonesia.com

 

[Indos]

Sri Mulyani: Inflation Projected at 4% in 2022, Down to 3.6% in 2023​

NEWS - Cantika Adinda Putri, CNBC Indonesia
31 May 2022 11:06

Photo: Sri Mulyani in a press statement regarding the results of the plenary cabinet meeting, Jakarta, (5/7/2021). (Doc: Screenshot of the Indonesian Presidential Secretariat Youtube)

Jakarta, CNBC Indonesia - The government estimates that inflation in 2022 could reach 4% due to the surge in international commodity prices. Meanwhile, in 2023 it is estimated that it will fall again to 3.6%.

This was conveyed by the Minister of Finance Sri Mulyani Indrawati during the DPR Plenary Meeting, Tuesday (31/5/2022)

"Indonesia's inflation is relatively low compared to various countries and various international institutions. The estimated inflation for Indonesia in 2022 is in the range of 4% with the consensus forecast for 2022 issued in May 2022, inflation in 2023 will reach 3.6%," he explained.

Sri Mulyani said that the low inflation forecast was due to a number of international institutions that view commodity prices as starting to decline next year compared to 2022. However, they are still higher than in previous years.

"We have to be aware of this in the dynamics of the state budget," said Sri Mulyani.

Sri Mulyani: Inflasi 2022 Diproyeksi 4%, 2023 Turun ke 3,6%

Pemerintah memperkirakan inflasi pada 2022 bisa mencapai 4% akibat lonjakan harga komoditas internasional.

www.cnbcindonesia.com

 

[Indos]

Govt to scrap subsidy for bulk cooking oil

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The Indonesian Navy Fleet Commander Vice Adm. Agung Prasetiawan (left) inspects a container filled with cooking oil at the port of Belawan in Medan, North Sumatra, which was planned to be shipped to Malaysia, on May 6, 2022. (Agence France-Press/Jakfar)


Vincent Fabian Thomas (The Jakarta Post)
Jakarta ● Tue, May 31, 2022


The Industry Ministry has announced it would scrap the subsidy for bulk cooking oil, effective from Tuesday, leaving many producers unable to file a subsidy claim for selling the staple food below market prices.

Introduced in January, the subsidy scheme compensated producers for selling cooking oil at Rp 14,000 (96 US cents) per liter at a time when market prices were at Rp 20,000 per liter due to high global crude palm oil (CPO) prices. The difference was covered using funds from the Palm Oil Support Fund Agency (BPDPKS).

“[Subsidizing] the bulk cooking oil price using the BPDPKS fund will end on May 31 midnight,” the Ministry’s Agroindustry Director General Putu Juli Ardika told reporters at a press briefing on Monday. Replacing the subsidy scheme, the so-called bulk cooking oil public program (MGCR) is to take effect on June 1.

The MGCR sets price caps and domestic market quotas for cooking oil ingredients such that prices fall to the government target price. Bulk cooking oil held a lion's share of 62 percent of total domestic cooking oil demand, with small businesses and lower-income families its main consumers.

Putu said the Trade Ministry would compensate producers by offering to convert the payable subsidies into cooking oil export quotas.

As of Monday, 35 out of 61 companies were willing to take the offer, Putu said, adding that the ministry was expecting the rest to respond soon. Of the 61 companies, only five of them have made a claim and received the payable subsidy as of Monday, ministry data show. Putu said the other companies failed to submit the necessary documents.

Through the MGCR program, the government expects to increase domestic bulk cooking oil supplies up to 12,000 tons a day, from 9,000 tons previously, Putu said. The numbers were calculated based on Statistics Indonesia (BPS) and Trade Ministry data.

Ahead of the new policy, the average price of bulk cooking oil has remained at Rp 16,620 per kilogram, far above the Rp 15,500 per kg ceiling price, according to Trade Ministry data.

Putu said that despite the gap, the ministry was confident that prices would soon hit the price target as the government had secured more than 442,672 tons of bulk cooking oil from March up to Monday.

https://www.thejakartapost.com/business/2022/05/31/govt-to-scrap-subsidy-for-bulk-cooking-oil.html

 

[Indos]

LIVE

Finance Minister, Planning Minister, and Central Bank Governor presenting 2023 state budget and overall economic condition in Commission XI DPR (Parliament)

 

[Indos]

SOEs record Rp126 trillion net profit in 2021​

14 minutes ago

State-Owned Enterprises (SOEs) Minister Erick Thohir attended a working meeting with Commission VI of the Indonesian House of Representatives at the Parliament Complex, Jakarta (June 7, 2022). (ANTARA PHOTO/Dhemas Reviyanto/wsj/uyu)


Jakarta (ANTARA) - The total net profit of Indonesian state-owned enterprises (SOEs) reached Rp126 trillion (US$8.6 billion) in 2021, SOEs Minister Erick Thohir has informed.

"Meanwhile, the total revenue of SOEs was Rp1,983 trillion (US$136.4 billion), which was equivalent to 99 percent of the state budget (APBN) revenue," he said during a working meeting with Commission VI of the Indonesian House of Representatives (DPR RI) here on Tuesday.

The improving performance of corporations due to the SOEs transformation program contributed positively to the country, he noted.

The total taxes, dividends, and non-tax state revenues collectively earned by the enterprises reached Rp371 trillion (US$25.5 billion), he informed.

He said he is optimistic that the total dividends will return to their normal value after the pandemic ends.


Related news: SOEs committed to developing, supporting domestic industries: Thohir


The minister informed that the profit in 2021 reflected a massive increase compared to 2020, when it was recorded at only Rp13 trillion (US$894.4 million).

"It is an extraordinary achievement," he remarked.

He proposed an increase in the 2023 SOEs Ministry budget by Rp79.7 billion (US$5.48 million) from Rp232 billion (US$15.96 million) to the House.

The indicative budget ceiling given to the ministry was the smallest compared to all ministries, however, he emphasized that his ministry will still work efficiently and carefully.

This is especially considering that the SOEs Ministry has been tasked with ensuring the availability of job opportunities, providing assistance to MSMEs, as well as maintaining national strategic projects, he added.


Related news: SOEs, G20 Empower supporting women in work, business: minister


Member of Commission VI of DPR RI, Mufti Anam, lauded the ministry’s achievement in improving the performance of state-run companies in the midst of the pandemic.

He said that the ministry has managed to exceed the targets.

"The dividends we received exceeded the target of Rp35 trillion (US$2.4 billion) as they reached Rp41 trillion (US$2.8 billion)," he remarked.

Meanwhile, another member of the commission, Andre Rosiade, praised the minister for succeeding in consolidating the SOEs’ financial statements for the first time.



Related news: 50 BNI-fostered MSMEs showcase products in Turkey

Related news: SOEs continue to create job opportunities for public: Minister
Reporter: Sugiharto Purnama, Uyu Liman
Editor: Fardah Assegaf
COPYRIGHT © ANTARA 2022

SOEs record Rp126 trillion net profit in 2021 - ANTARA News

The total net profit of Indonesian state-owned enterprises (SOEs) reached Rp126 trillion (US$8.6 billion) in 2021, SOEs Minister Erick Thohir has ...

en.antaranews.com

 

[Indos]

I will try to keep this thread running along the year of 2022, I expect our budget deficit for this year can be lower than 4 % of GDP inshaAllah despite all spending will keep being disbursed at 100 % rate based on the previous budget plan for 2022.

My prediction is our economy can grow at 5.5 percent this year where 5.6-5.7 % growth is still possible to achieve.

Hopefully it will be the case, Amin.

2022 deficit to hit below 4% despite subsidy hike: Govt​

Finance Minister Sri Mulyani Indrawati holds a press briefing on July 1, 2022 regarding the voluntary disclosure program, dubbed the second tax amnesty.(DJP/Public Relation)


Vincent Fabian Thomas (The Jakarta Post)
PREMIUM
Jakarta

Sun, July 3, 2022

The Finance Ministry is confident that the state budget deficit will drop below 4 percent of gross domestic product (GDP) this year, pointing to faster-than-planned fiscal consolidation despite increased spending to shield Indonesians from surging global energy prices.

After a second downward revision, the ministry now expects the difference between state revenue and spending to reach just 3.92 percent of GDP, much lower than its previous projection of 4.5 percent as well as the budget plan’s original assumption of 4.85 percent.

The latest figure allows the government to cut bond issuance to Rp 757.6 trillion (US$50.56 billion), a fifth of the amount stated in the initial budget plan for this year.

2022 deficit to drop below 4% despite subsidy hike: Govt

The government is optimistic that the budget deficit will drop to less than 4 percent of GDP this year despite increased spending to shield Indonesians from global shocks.

www.thejakartapost.com

 

[Indos]

2023 Budget

INFOGRAFIS: Rincian Pendapatan dan Belanja Negara di RAPBN 2023

Jokowi mematok belanja negara Rp3.041 triliun dan pendapatan Rp2.443,6 triliun di RAPBN 2023. Berikut rincian belanja dan asal pendapatannya.

www.cnnindonesia.com