Indef: The G20 Presidency Can Be Directed As A Peace Bridge For Central Countries In Conflict, Russia Vs Ukraine For Example

Photo: Doc. Antara

JAKARTA - Center of Food, Energy, and Sustainable Development Institute for Development of Economics and Finance (Indef) researcher Dhenny Yuartha Junifta said Indonesia's G20 Presidency could be directed to become a bridge to peace for countries in conflict. He gave an example of the G20 Presidency in Indonesia being able to reduce the conflict between Russia and Ukraine in order to facilitate the global supply chain so that the increase in world commodity prices can be suppressed. "If the G20 meeting is directed to provide the peace bridge, it seems that the increase in world oil prices can also be suppressed," Dhenny said during an Indef online discussion in Jakarta, reported by Antara, Thursday, September 15. Indonesia's G20 presidency can also be directed to persuade world oil producing countries that are members of the Organization of the Petroleum Exporting Countries (OPEC) to increase their production. However, this may be difficult to do considering that world oil-producing countries also benefit from rising oil prices. "Because these countries also get extraordinary benefits so they aji while taking advantage of the increase in oil prices," he said. Dhanny added that additional social assistance worth Rp. 24.17 trillion was not enough to reduce the impact of the increase in domestic fuel prices (BBM) on people's purchasing power. Additional Cash Direct Assistance (BLT) for 20.64 million Beneficiary Families (KPM) which is worth IDR 150,000 for six months, should reach IDR 1 million per month for each KPM. "By shifting the allocation for subsidies and compensation that can reach Rp500 trillion to BLT, it should be possible to increase people's purchasing power. Then, the government needs to reconsider the continuation of beacon projects that can be allocated for social spending," he said.