Coordinating Minister Airlangga Guarantees There Will Be No Increase In Fuel Prices In The Near Future

Illustration (Photo: Doc. Antara)

JAKARTA - The government will continue to monitor fluctuations in world crude oil prices because, if there is an increase in prices, it will have an impact on national growth in the first quarter of 2024.

Coordinating Minister for Economic Affairs Airlangga Hartarto said the current world crude oil price is still volatile or unstable.

Airlangga also ensured that the government's fiscal space was still wide enough to be able to deal with the turmoil in crude prices in the world market.

"First, it's still January, so the fiscal room is still quite wide," said Airlangga during a press conference, Monday, February 5, 2024.

According to Airlangga, the government must conduct an evaluation first, before deciding on additional fuel subsidies in the country.

"We'll see, we evaluate, even for six months the budget is still quite available," he said.

Therefore, Airlangga ensured that the government would not increase the price of fuel oil (BBM) in the near future.

"So, there will be no increase (BBM) in the near future," he said.

For information, the Minister of Finance Sri Mulyani Indrawati allocated an energy and non-energy subsidy fund of IDR 300.2 trillion in the 2024 State Revenue and Expenditure Budget Draft (RAPBN).

Meanwhile, the energy subsidy budget targets electricity subsidies, fuel oil (BBM), 3 kilograms LPG of IDR 185.9 trillion. This energy subsidy increases when compared to the 2023 State Budget outlook which is valued at IDR 185.4 trillion.