BI Deposits Surplus with Government, DPR: The Money is Like Ping-Pong...

JAKARTA – Bank Indonesia’s (BI) plan to deposit its 2025 fiscal year surplus with the government has drawn scrutiny from the DPR, particularly regarding the fund flow scheme likened to a “ping-pong” game. On one hand, BI recorded a substantial surplus from excess capital ratios. On the other, part of the deposited funds returns to BI to settle government obligations. This phenomenon reflects the not entirely straightforward dynamics of the relationship between fiscal and monetary authorities, especially in state financial management. “If the surplus is indeed above, we will deposit it with the government. In December last year, the government requested part of it as an advance, so this Rp15 trillion as an advance we have provided to the government,” said BI Governor Perry Warjiyo during a working meeting with DPR RI Commission XI in Jakarta on Wednesday (8/4/2026). However, not all of these funds will truly enter as additional state cash. The government still has obligations to BI amounting to Rp45 trillion from previous Bank Indonesia Rupiah Securities (SRBI). “The government still has old debt. From the previous SRBI, not the current one. Rp45 trillion. So we will deposit first,” Perry stated. This situation means the net value that truly strengthens state cash is smaller. From a total of Rp85 trillion, only about Rp25 trillion becomes new addition, plus the Rp15 trillion advance received previously. Thus, the total net funds entering state cash is around Rp40 trillion. “This is currently in the audit process. Once the audit concludes, the remaining surplus we will deposit,” Perry added. Regulation-wise, this mechanism refers to Ministry of Finance Regulation (PMK) No. 115 of 2025. In that regulation, BI’s surplus is recorded as state revenue, while government payments to BI fall under the financing category.