TEMPO.CO, Jakarta - The Finance Ministry predicted that the Indonesian Crude Price (ICP) would reach US$50 per barrel this year, which is higher than that assumed in the 2017 State Budget at US$45 per barrel.
“Our assessment shows that [the ICP will reach US$50 per barrel. We’re still working on the Revised State Budget. We will calculate the exact amount of additional revenue,” Finance Ministry’s head of fiscal policy agency Suahasil Nazara said in Jakarta today.
Finance deputy minister Mardiasmo revealed that the ICP outlook is higher than that set in the 2017 State Budget.
“The non-tax state revenue (PNBP) will increase if the ICP increases,” Mardiasmo said.
Earlier, Finance Minister Sri Mulyani predicted that the government will earn additional revenue of US$15 trillion from the increasing ICP and others. Sri Mulyani added that her ministry would strive to increase the additional revenue above Rp 15 trillion.
Sri Mulyani revealed that President Joko Widodo or Jokowi has instructed ministries and state bodies to cut spending for certain purposes, such as official trips. Sri Mulyani pointed out that the potential saving from cutting budgets for ministries and state bodies could reach Rp 16 trillion.
ANGELINA ANJAR SAWITRI