The target of tax revenue in RAPBN 2017 worth 1.495,9 trillion IDR that dropped compared to APBN-P 2016 worth 1.539,2 trillion IDR is considered more realistic. The decrease is caused by the lack of contribution from oil and gas corporate income tax which is estimated to reach to 17 trillion IDR.
Samuel Sekuritas Indonesia considers RAPBN 2017 more realistic so it can give a positive sentiment to Indonesia Composite Index (ICI). But, the market players will keep watching on the tax amnesty achievement. Until Thusday morning, tax revenue from tax amnesty reached 637 billion IDR or 0.4% from the target. The property valuation is declared taxpayers of 31.3 trillion IDR and repatriation funds reach 1.15 trillion IDR.
CIMB Principal Asset Management (CPAM) said that the allocated of government expenditure was prioritized on infrastructure sector. This matter appeared from the Ministry of Public Works and Housing (Kementrian Pekerjaan Umum dan Perumahan Rakyat/ KemenPUPR)’s budget that increased to 105,6 trillion IDR from 97,1 trillion IDR. “As long as the budget cut is not on the postal infrastructure, the government cut can boost the economy,” said Ridwan Soetedja, the President Director of CPAM.
In the first session of the trading on Tuesday (18/8), ICI had strengthened by 1.28% to 5.440.82 points. (*)
| Macro Assumption | RAPBN 2017 | APBN-P 2016 |
| Economic Growth | 5,3% | 5,2% |
| Inflation | 4% | 4% |
| Treasury Bills | 5,3% | 5,5% |
| Rupiah exchange rates | Rp 13.300/US$ | Rp 13.500/US$ |
| Oil Price | US$ 45/barel | US$ 40/barel |
| Oil Lifting | 780.000 bpd | 820.000 bpd |
| Sources: Kemenkeu | ||
| Ratio of APBN Posture | ||
| In trillion rupiah | ||
| Note | RAPBN 2017 | APBN-P 2016 |
| State Revenue | 1.737,6 | 1.786,2 |
| 1. Domestic Revenue | 1.735,9 | 1.784,2 |
| a. Tax | 1.495,9 | 1.539,2 |
| b. PNBP | 240 | 245,1 |
| 2. Grant | 1,7 | 2 |
| State Spending | 2.070,5 | 2.082,9 |
| 1. Central Government Expenditure | 1.310,4 | 1.306,7 |
| 2. Transfer to the area and village funds | 760 | 776,3 |
| Primary Balance | (111,4) | (105,5) |
| Budget Surplus (deficit) | (332,8) | (296,7) |
| Percentage of surplus (deficit) to GDP | (2,41%) | (2,35%) |
| Budget Expenses | na | 296,7 |
| 1. Domestic Expenditure | na | 299,3 |
| 2. Foreign Expenditure (net) | na | 2,5 |
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