2022 State Budget: Fiscal Policy and Structural Reform
2021 Budget Financing
Macroeconomic
Economic Growth
Inflation
Exchange Rate
Assumption for 2021
10 years T-Bills
Rate
5%
3%
Budget
14.600
IDR/USD
ICP
US$ 45
7.29%
per barrel
1,760.7
State Budget
(APBN): 1,743.6
1,400.3
Tax
Revenue
Expenditure
Central Govt
Expenditure
Oil Lifting
705
thousand
barrel/day
Gas Lifting
1.007
thousand barrel of
oil equivalent/day
2,700.3
State Budget (APBN):
2,750
.
STATE REVENUE POLICY
Supporting national economic recovery by providing tax
incentives selectively and prudently calculated
Cutting the red tape to accelerate national economic
recovery
• Improving public services to optimize non-tax revenue
1.929,6
357.7 Non Tax
Transfer to Region
& Village Fund
770.7
2.7
Grants
.
EXPENDITURE FOCUS
• Handling COVID-19 and supporting health programs
Continuing social safety net to lay a solid foundation of
inclusive economic recovery
•
Expanding access to capital for MSMEs and cooperatives
through interest subsidy
• Supporting programs activities for impacted sectors (e.g.
Tourism)
APBN & Outlook
FINANCING STRATEGY
Supporting the restructuring of SOES, PSA, Sovereign
Wealth Fund (SWF)
• Increasing access to financing for MSMEs and housing for
low-income household
• Continuing to support higher education,, research and
cultural activities
939.6
Financing
Deficit
State Budget
5,7% PDB
(APBN):1,006.4
Source: Ministry of Finance
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