JAKARTA - The Ministry of Finance (Kemenkeu) ensures that the rupiah exchange rate against the US dollar which almost touched Rp. 16,000 does not have an impact on the posture of the national revenue and expenditure budget (APBN).
Fiscal Policy Agency of the Ministry of Finance, Febrio N. Kacaribu, said that the APBN flexibly provides fiscal space to withstand the effects of global economic shocks. One of them is related to the strengthening of the US dollar exchange rate.
"The state budget is safe, and will be safe (from the rupiah which is close to Rp. 16,000). So soon we will convey it, but the state budget is on track," he said in Jakarta, Tuesday, October 24.
Febrio explained that the reason the rupiah was at the level of Rp. 15,880 was not due to domestic sentiment, but because the US dollar was strengthening.
"But the dollar is indeed strengthening," he said.
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Febrio assessed that the US dollar strengthened amid the high demand for Uncle Sam's currency.
One of them was triggered by the swelling of the US government's budget deficit.
"Why is the dollar getting stronger? They need to finance the US deficit, the US deficit is going very sharply," said Febrio.
Even so, Febrio said, Indonesia's macroeconomic condition is still better than other countries.
"Our rupiah maintenance is still appreciated until last month compared to the beginning of the year, so even though we depreciated Rp15,800 today, it is still under 1 percent depreciation, many other countries have 10 percent, 8 percent," he explained.
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