JAKARTA - Finance Minister Purbaya Yudhi Sadewa stated that the spike in oil prices due to geopolitical turmoil has not disrupted state finances. He claimed that the state budget was still able to withstand the rise in oil prices to US$92 per barrel.
"I have counted up to 92, we can still control the budget, so there is no problem," said Purbaya after meeting the President at the Presidential Palace complex in Jakarta, Tuesday, March 3.
When reporters asked whether the Minister of Finance was worried that geopolitical impacts would enter through exports or rising oil prices, Purbaya emphasized that he did not see any immediate threat.
"No. We can adjust, we can arrange," he said.
Purbaya also assessed that the government's control room was still open even though the pressure was increasing, as long as the deficit could be calculated and maintained.
"I can calculate on the assumption that we can still control our deficit. Our economy can still progress, there is no problem," he said.
He explained that the resilience of the national economy is very much based on domestic demand. According to him, even though the price pressure is higher than the assumption, Indonesia still has a cushion.
"Even if it is above, as long as we can maintain domestic demand, which contributes 90 percent to the economy, we can still survive," said Purbaya.
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