ANALISIS KAPASITAS FISKAL DAERAH DALAM PENGEMBALIAN PINJAMAN DANA PEN: STUDI PADA KABUPATEN BONE BOLANGO DENGAN PENDEKATAN DEBT SERVICE COVERAGE RATIO
DOI:
https://doi.org/10.47491/landjournal.v7i2.4820Keywords:
National Economic Recovery, , Regional Loan, Regional Financial Capacity, , Debt Service Coverage Ratio, Regional BudgetAbstract
This study aims to analyze the impact of the National Economic Recovery (PEN) loan on the regional financial capacity of Bone Bolango Regency at the Regional Financial and Revenue Agency (BKPD). The PEN loan is a central government policy designed to accelerate economic recovery following the COVID-19 pandemic, which consequently creates repayment obligations, including principal and interest, for local governments. Therefore, an analysis of regional fiscal capacity is necessary to ensure sustainable financial management. This research employs a quantitative descriptive approach using the Debt Service Coverage Ratio (DSCR) as an indicator of the region’s ability to meet its loan repayment obligations. The data were obtained from the Regional Budget Realization Reports (LRA) of Bone Bolango Regency for the 2022–2023 fiscal years, including Local Own-Source Revenue (PAD), transfer revenues, mandatory expenditures, and loan principal and interest obligations. The results show that the DSCR value of Bone Bolango Regency in the 2022 fiscal year was 4.02, exceeding the minimum threshold of 2.5 established by the government. This indicates that the regional government possesses adequate fiscal capacity to repay the PEN loan. Although the loan imposes a burden on the Regional Budget (APBD) through interest payments and reductions in general transfer funds, technically Bone Bolango Regency is considered financially capable and eligible to fulfill its repayment obligations. This study concludes that the PEN loan does not directly weaken regional financial capacity, provided that revenue and expenditure management is carried out efficiently and strategically.
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