Govt Budget 2017: 5.3% Economic growth
The Government is in discussions to formulate the 2017 budget. Some of the key highlights are:
1) Economic growth is 5.3%.
2) Inflation is 4.0%
3) Exchange rate of Rp13,300 per US$1.
4) Oil lifting 780,000 bopd and 1.15m bopd of gas per day with oil price assumption at US$45 per barrel.
5) Tax revenue is budgeted to decline by Rp47.2t from Rp1,318.9t to Rp1,271.7t.
6) Non oil and gas income is budgeted at Rp1,271.7t for 2017, broken down into income tax of Rp751.8t (down by Rp67.7t from Rp819.5t in 2016). Others components include VAT tax and property tax (discussed in the following points).
7) VAT tax is budgeted to rise to Rp489.3t from Rp474.2t. 8) Property tax is expected to be slightly down by Rp0.4t to Rp17.3t from Rp17.7t in 2016.
