Danantara's IDR 120 Trillion Profit Contribution to State Budget Not Yet Final, Here is Why

The figure of IDR 120 trillion from Danantara Indonesia has been widely cited as a potential addition to the 2026 State Budget (APBN) revenues. However, stating the figure is far easier than determining the actual contribution.

This is because the amount of Danantara’s profit that enters the state treasury is not a decision that can be made arbitrarily. “The IDR 120 trillion figure may serve as part of the projection. But when discussing how much is actually deposited, there are mechanisms and authorities that must be respected,” said an internal Danantara source, as reported on Thursday (3/9/2026).

The source emphasised that this mechanism is regulated under the State-Owned Enterprises (BUMN) Law, as most recently amended by Law Number 16 of 2025. Article 3H stipulates that Danantara’s profits do not automatically become entirely state deposits. Part of the profit is designated as profit for the state only after accounting for reserves for investment loss risks and/or capital accumulation.

Further implementing regulations, Government Regulation (PP) Number 34 of 2025, also govern the use of Danantara’s profits for mandatory reserves, retained earnings, and deposits to the state. It should be noted that the distribution of profits to the state can be determined by the President, with the specific amount established through a Presidential Decree. This means the figure included in revenue projections may not necessarily match the amount ultimately deposited into the State Budget.

“Projections should not be mistaken for final decisions. Danantara is, of course, subject to the laws and decisions that will be established according to its authority,” the source added.

Consequently, the IDR 120 trillion should currently be viewed as a potential state revenue figure. Regarding the actual amount entering the state treasury, there is a legal mechanism that must be followed and decisions that have yet to be finalised.