The Indonesian government, including local governments, has spent large sums of money and many programs to reduce poverty. However, in several regions in Indonesia, the number of poor people has increased, as in Central Kalimantan, where the poverty rate has increased in the last three years. The number of poor people in Central Kalimantan in 2020 is 132 thousand people; this number increased to 140 thousand people in 2021, then increased again to 145 thousand in 2022. Research on poverty has been carried out in Indonesia. However, research analyzing poverty caused by natural factors and mismanaged government policies has not been carried out. This research was conducted to analyze poverty in Central Kalimantan between state policy governance factors and natural factors. The research uses analytical qualitative methods and case study designs. The analysis uses the new institutional theory and the natural resource curse theory. The research finds that mistakes in managing government policies (structural dimension) and nature (natural dimension) are factors that both play a role in increasing poverty in Central Kalimantan. As a practical suggestion, the government needs to make more intense and detailed efforts to alleviate poverty in Central Kalimantan that are adapted to natural conditions. Keywords: poverty in Indonesia, poverty programs, the curse of natural resources