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JAKARTA - Purbaya Yudhi Sadewa, Indonesia&rsquo;s finance minister, has reaffirmed that subsidised fuel prices will remain stable until the end of the year, despite rising global oil prices driven by escalating conflict involving the United States and Israel against Iran.
However, he said he could not predict or guarantee prices for non-subsidised fuel, as these are not subject to government price support.
&ldquo;We are prepared to maintain subsidised fuel prices through to the end of the year, assuming an average oil price of USD 100 per barrel,&rdquo; Purbaya said during a working meeting with Commission XI of the House of Representatives (DPR RI) in Jakarta on Monday (6/4).
He added that the government has prepared mitigation measures and assessed the resilience of the state budget (APBN) under scenarios where oil prices rise to USD 80 or USD 100 per barrel.
&ldquo;Subsidised fuel is secure until the end of the year. The public need not worry, the subsidy budget remains sufficient,&rdquo; he said.
In addition to the APBN, the government has other funding sources to address oil price pressures, including surplus budget funds (SAL) amounting to IDR 420 trillion, of which IDR 200 trillion is held in the banking system, as well as various revenue streams such as non-tax state revenue (PNBP) from the energy and mineral resources sector.
Purbaya stressed that &ldquo;the key point is that the funds are available &mdash; our fiscal cushion remains intact. The energy minister has also pledged additional revenue from rising global oil and coal prices.&rdquo;
The government is also cutting spending in less efficient ministries and agencies. This is crucial, as every USD 1 per barrel increase in oil prices adds IDR 6.8 trillion to the subsidy burden.
&ldquo;These efficiency measures will also help maintain the fiscal deficit at 2.92% without having to draw on SAL. We will control expenditure and boost revenues from several sectors, including commodities,&rdquo; Purbaya said. (DK/ZH)

USD 1 rise in oil prices adds IDR 6.8 trillion in subsidies. Purbaya says budget remains ample.

Purbaya: Subsidised fuel prices to remain unchanged through end-2026

JAKARTA - Menteri Keuangan Purbaya Yudhi Sadewa, menilai peringatan Morgan Stanley Capital International (MSCI) pekan lalu, justru menjadi peluang untuk memperkuat pasar keuangan Indonesia.
Purbaya menegaskan bahwa kondisi fundamental ekonomi nasional tetap solid, meskipun peringatan tersebut sempat memicu tekanan di pasar saham.
Seperti dikutip Bloomberg, Purbaya mengatakan bahwa peringatan MSCI merupakan hal positif, di&nbsp;forum Indonesia Economic Summit (IES) di Jakarta pada Selasa (3/2) hari ini.
Menurut Purbaya, penurunan signifikan yang terjadi di pasar saham pekan lalu, mencerminkan kegelisahan investor dan bukan sinyal adanya krisis serius
Ia bahkan berseloroh bahwa sentimen pasar akan membaik, setelah investor menyadari dirinya memegang kendali kebijakan keuangan Indonesia.
Purbaya menekankan bahwa peningkatan transparansi itu, akan turut memperbaiki berbagai masalah struktural di pasar keuangan Indonesia. Secara tidak langsung, langkah ini juga diyakini akan mendukung pertumbuhan ekonomi.
Seperti disampaikan IDNFinancials.com sebelumnya, MSCI mengingatkan berbagai faktor kelayakan investasi yang berpotensi membuat Indonesia turun kelas dari posisi emerging market menjadi frontier market, apabila reformasi tidak dijalankan hingga Mei mendatang.
Peringatan itu memicu aksi jual besar-besaran di pasar saham, yang sempat menghapus kapitalisasi pasar saham Indonesia hingga ribuan triliun rupiah, menyebabkan trading halt, serta mendorong arus modal asing keluar secara signifikan. (DK/KR)

Purbaya menilai alarm MSCI sebagai peluang meningkatkan transparansi dan merombak pasar modal.