"I don't remember the precise figure, but I believe it's between Rp2 trillion and Rp6 trillion," he told the press in Jakarta on Thursday.
The minister noted that the government decided to start levying duties on gold exports with the dual objectives of boosting state revenue and obtaining a clearer picture of the actual value of Indonesian gold products.
"In other words, we seek to look into the actual figure of revenue this country can generate from gold mining," the state treasurer remarked.
Earlier, on Monday (November 17), the Finance Ministry's Director General of Economic and Fiscal Strategies Febrio Kacaribu told legislators that related ministries and agencies had agreed to introduce gold export duties ranging from 7.5 percent to 15 percent to support Indonesia's economic standing.
Speaking during a meeting with Commission XI of the House of Representatives (DPR) in Jakarta, he said the Finance Ministry would soon issue a regulation formalizing the export duty policy, as mandated by the State Budget 2026 Law.
Kacaribu explained that the policy is also crafted to supply more gold for domestic needs, citing rising demand for investment-grade gold through state-run pawnbroker PT Pegadaian and state-owned Bank Syariah Indonesia (BSI), which co-manage Indonesia's bullion bank.
"It is quite difficult for them (Pegadaian and BSI) to acquire gold these days despite the fact that our country stands as the world's fourth-largest holder of gold reserves," he stated.
He added that the export duty—targeting gold in the forms of dore bars, granules, cast bars, and minted bars—is also intended to help Indonesia benefit from the soaring global gold price, which has surpassed US$4,000 per troy ounce.
Related news: Export of gold jewellery to the US has potential to increase
Related news: Indonesian govt continues crackdown on illegal mining in NTB forest
Translator: Putu Indah, Tegar Nurfitra
Editor: Azis Kurmala
Copyright © ANTARA 2025
