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‘State revenue surpasses target for first time since 2012’
Sri Mulyani attributed the performance to improvements in the economy and increased tax collection.
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Finance Minister Sri Mulyani Indrawati (center), accompanied by Taxation Director General Robert Pakpahan (right), treasury director general Marwanto Harjowiryono (second right), Fiscal Policy Agency head Suahasil Nazara (left) and budget director general Askolani, interacts with the media before a briefing on the 2018 state budget in Jakarta on Jan. 2. (Antara/Aprillio Akbar)
T
he government reported on Wednesday that state revenue collected last year had surpassed the target as outlined in the 2018 state budget, a feat that Finance Minister Sri Mulyani said was last achieved in 2012.
State revenue, which includes tax collection and non-tax revenue, was recorded at Rp 1.94 quadrillion (US$ 134.11 billion) as of Dec. 31, according to preliminary Finance Ministry data, or Rp 47.6 trillion above the Rp 1.89 quadrillion target set in the 2018 state budget.
Sri Mulyani attributed the performance to improvements in the economy and increased tax collection by the Taxation Directorate General.
“Our strong revenue was supported by positive economic growth in which major sectors recorded double-digit growth, meaning that the foundation of the economy was strong and the ability of Taxation Directorate General to collect taxes improved,” said Sri Mulyani.
Tax revenue was recorded at Rp 1.31 quadrillion, or 92.4 percent from the Rp 1.42 quadrillion target set in last year’s budget, while the customs office collected Rp 205.5 trillion in customs and excise last year, above the Rp 194.1 trillion state budget target.
Relatively high commodity prices, coupled with the rupiah's depreciation, also contributed to the positive non-tax revenue collection in 2018, which was recorded at Rp 407.1 trillion, or 147.8 percent of the Rp 275.4 trillion target in last year’s state budget. (bbn)
