Danantara Dividends Will Not Enter State Budget for 2026 and 2027

Indonesian Minister of Finance Suahasil Nazara confirmed that the dividends generated by the state investment body BPI Danantara will not flow into the state budget for the fiscal years 2026 and 2027, according to reporting by detikFinance, Kompas, ANTARA News, and CNN Indonesia. Speaking in Jakarta on Oct. 8, 2026, Suahasil explained that neither the 2026 state budget nor the budget currently being drafted for 2027 includes Danantara dividend receipts as part of state revenue.

Suahasil Excludes Danantara Dividends from State Budgets

Suahasil stated during a meeting at Hotel Kempinski that fiscal planning for the upcoming periods treats Danantara’s earnings outside the traditional dividend remittance framework. According to ANTARA News, the minister noted that he is currently managing the 2026 state budget and preparing the 2027 budget without any recorded Danantara dividend entries, and in an exclusive interview with Bloomberg Television alongside journalist Haslinda Amin broadcast on Friday, Oct. 2, 2026, he affirmed that these dividends were not calculated into state revenues for either budget year. When asked about the possibility of Danantara dividends entering the 2028 state budget, Suahasil noted that the prospect remains hypothetical. Under previous regulations governing state-owned enterprises last year, dividends from state-owned corporations entered the Non-Tax State Revenue (PNBP) category specifically designated as Separated State Assets (KND) prior to the transfer of asset management to Danantara, as noted by ANTARA News.

This marks a departure from earlier projections floated under former Minister of Finance Purbaya Yudhi Sadewa. CNN Indonesia and Kontan reported that Purbaya had previously stated Danantara would transfer approximately Rp 120 trillion of its profits into the state budget’s Non-Tax State Revenue (PNBP) category for 2026, noting on Friday, Aug. 28, that the decision had been determined by President Prabowo Subianto and awaited only a scheduled remittance timeline. However, Dony Oskaria, Chief Operating Officer of Danantara, told reporters that no such remittance plan ever officially existed, noting that the idea had been corrected by the current finance ministry leadership, as reported by detikFinance and Kontan.

Reinvestment Strategy for State Assets

Instead of entering the state coffers as cash revenue, earnings from enterprises managed under Danantara will be channeled back into investments and public infrastructure projects. Dony Oskaria explained that the collected funds are slated for reinvestment through Danantara Asset Management and Danantara Investment Management, led by Pandu Sjahrir, as detailed by detikFinance and Kontan.

Suahasil emphasized that evaluating Danantara solely on cash dividends misses its broader economic mandate. As reported by ANTARA News, the minister stressed that the organization’s true return lies in large-scale asset management, job creation, and boosting production of goods and services while connecting public initiatives with private sector capital.

Dual Engines for Economic Growth

Kompas reported that Suahasil described the state budget and Danantara as two arms of the government functioning in tandem to pursue a 7 percent investment growth target. While the fiscal budget prioritizes public services, fundamental infrastructure, and social protection, Danantara operates as an investment catalyst to stimulate private business activity, according to Kompas. Suahasil also mentioned that the government is targeting an economic growth rate of 6 percent for the upcoming year, a goal that requires higher household and government consumption alongside financial sector stability supported by monetary policy, the Financial Services Authority (OJK), and the Indonesia Deposit Insurance Corporation (LPS).

Dony Oskaria reinforced this perspective in reports by CNN Indonesia and Kontan, noting that both the fiscal budget and Danantara remain 100 percent state-owned instruments meant to drive national economic expansion together.

Pada dasarnya dua-duanya negara. Kan jadi Danantara itu 100 persen punya negara, bukan punya orang lain. Sama aja gitu.

CNN Indonesia