State Dividend Redirected to Danantara, Non‑Tax Revenue Falls

JAKARTA, October 15, 2025 – The government reported that non‑tax state revenue (PNBP) reached Rp344.9 trillion through September 2025, 19.8% lower than the same period last year. The figures were released by the Ministry of Finance on Wednesday (15 Oct 2025).

Deputy Finance Minister Suahasil Nazara said the decline is largely due to BUMN dividends no longer being recorded as PNBP after Law No 1/2025 redirected the dividends to the Danantara fund. In addition, Indonesia crude price fell 13.5% and benchmark coal price dropped 6.7%, limiting oil‑gas and coal receipts to Rp73.3 trillion and Rp86.3 trillion respectively.

The realized amount represents 72.3% of the PNBP outlook of Rp477.2 trillion and 67.2% of the 2025 APBN target of Rp513.6 trillion, prompting the government to adjust revenue assumptions in the budget plan. Other PNBP and BLU revenues reached Rp103.3 trillion and Rp70.2 trillion respectively by September 2025.