FINANCE MINISTRY MANAGED TO COLLECT RP 994.36 TRILLION IN STATE REVENUE

Finance Minister Sri Mulyani Indrawati on Tuesday revealed that the Finance Ministry had managed to collect Rp 994.36 trillion (US$67.87 billion) in state revenue and grants up to the first half of 2018, from the whole year projection of Rp 1.89 quadrillion.

She said Rp 991.1 trillion came from domestic revenue (taxes and other income), while another Rp 3.3 trillion was grants from foreign countries.

The total revenue and grant achievement was higher than the achievement in the corresponding period of 2017, which was recorded at Rp 853.8 trillion, or 49.18 percent of the whole year target,   she said.

“It has grown 16.5 percent from the previous year,” Sri Mulyani said as quoted by kompas.com, adding that the contribution of taxes to state revenue was recorded at Rp 780.5 trillion, or 42.21 percent of the whole year target.

Meanwhile, the realization of non-tax revenue reached Rp 221 trillion up to July, from Rp 221 trillion of the whole year target, she said, adding that the increase of oil and coal prices had contributed to the increase in non-tax revenue.

The average oil price in July was recorded at $70.68 per barrel, while the average oil price in the first half was at $67.14 per barrel, compared to the state budget projection, which was $48 per barrel. 

Meanwhile, the spending side of the state budget had reached Rp 1.15 quadrillion, or 51.6 percent of the total spending projection in 2018, consisting of Rp 697.02 trillion of central government spending and Rp 448.64 of transfer to the regional administrations.

“It shows that the realization of the state budget up to July 31 is very positive,” Sri Mulyani said.