Jakarta (Antara Bali) - The Indonesian government has submitted a draft revision of the 2016 state budget (RAPBNP) to the House of Representatives (DPR) for consideration.
"This RAPBNP covers several changes," Finance Minister Bambang Brodjonegoro said, after holding a working meeting with the DPR Budget Body here on Thursday.
He noted that the RAPBNP contains a number of changes in assumptions and targets for state revenues and expenditures.
Under the RAPBNP, the target of inflation rate was lowered to 4.0 percent from 4.7 percent, and the target of the rupiah's exchange rate against the dollar has been slashed to Rp13,500 from Rp13,900 per dollar.
Further, the assumed Indonesian crude price (ICP) was reduced to US$35 per barrel from US$50 per barrel, the assumed oil production was cut to 810 thousand from 830 thousand barrels per day (bpd) and the assumed gas production was lowered to 1,115 thousand from 1,155 thousand barrels of oil equivalent per day.
However, the assumed economic growth rate of 5.3 percent and the assumed interest rate of 5.5 percent on treasury notes (SPN) for three-month deposits remain unchanged.
"We make adjustment to the assumptions, particularly because the inflation rate can be kept in check and the rupiah's exchange rate continues to strengthen. On the other hand, crude oil prices are expected to fall significantly," he said.
With the change in assumptions, the government has revised downward the state revenue target to Rp1,734.5 trillion from Rp1,822.5 trillion and the state expenditure target to Rp2,047.8 trillion from Rp2,095.7 trillion.
Revenues from tax receipts will also decline to Rp1,527.1 trillion from Rp1,546.7 trillion and non-tax state revenues to Rp205.4 trillion from Rp273.5 trillion.
"To maintain tax receipts, the government will control the tax ratio to 12 percent of the national gross domestic product, optimize the realization of the tax amnesty scheme and encourage excise receipts," he said.
The ceiling of the central government's budget will also decline to Rp1,289.5 trillion from Rp1,325.4 trillion and, consequently, budget allocations to ministries and government institutions will drop to Rp743.5 trillion from Rp784.1 trillion. (WDY)
COPYRIGHT © ANTARA News Bali 2016
"This RAPBNP covers several changes," Finance Minister Bambang Brodjonegoro said, after holding a working meeting with the DPR Budget Body here on Thursday.
He noted that the RAPBNP contains a number of changes in assumptions and targets for state revenues and expenditures.
Under the RAPBNP, the target of inflation rate was lowered to 4.0 percent from 4.7 percent, and the target of the rupiah's exchange rate against the dollar has been slashed to Rp13,500 from Rp13,900 per dollar.
Further, the assumed Indonesian crude price (ICP) was reduced to US$35 per barrel from US$50 per barrel, the assumed oil production was cut to 810 thousand from 830 thousand barrels per day (bpd) and the assumed gas production was lowered to 1,115 thousand from 1,155 thousand barrels of oil equivalent per day.
However, the assumed economic growth rate of 5.3 percent and the assumed interest rate of 5.5 percent on treasury notes (SPN) for three-month deposits remain unchanged.
"We make adjustment to the assumptions, particularly because the inflation rate can be kept in check and the rupiah's exchange rate continues to strengthen. On the other hand, crude oil prices are expected to fall significantly," he said.
With the change in assumptions, the government has revised downward the state revenue target to Rp1,734.5 trillion from Rp1,822.5 trillion and the state expenditure target to Rp2,047.8 trillion from Rp2,095.7 trillion.
Revenues from tax receipts will also decline to Rp1,527.1 trillion from Rp1,546.7 trillion and non-tax state revenues to Rp205.4 trillion from Rp273.5 trillion.
"To maintain tax receipts, the government will control the tax ratio to 12 percent of the national gross domestic product, optimize the realization of the tax amnesty scheme and encourage excise receipts," he said.
The ceiling of the central government's budget will also decline to Rp1,289.5 trillion from Rp1,325.4 trillion and, consequently, budget allocations to ministries and government institutions will drop to Rp743.5 trillion from Rp784.1 trillion. (WDY)
Editor : I Gusti Bagus Widyantara
COPYRIGHT © ANTARA News Bali 2016