Coordinating Minister Airlangga Calls The Migas Trade Balance Deficit Worth 2 Billion US Dollars

Coordinating Minister for Economic Affairs Airlangga Hartarto. (Photo: Doc. Antara)

BALI - Coordinating Minister for the Economy Airlangga Hartarto said that the trade balance of the oil and gas sector (oil and gas) would experience a deficit. In fact, the figure is allegedly close to US$2 billion or equivalent to Rp31.2 trillion (assuming an exchange rate of Rp15,600).

In terms of the general trade balance, said Airlangga, recorded a surplus of around US $ 5 billion or equivalent to Rp. 78 trillion. To be precise, this surplus touched US $ 5.6 trillion in October 2022.

"Currently, our exports are positive at 5 billion US dollars, but the balance sheet at the oil and gas on a monthly basis is negative, it can be close to 2 billion US dollars," he said at the 3rd International Convention on Indonesian Upstream Oil and Gas (IOG) 2022 at BNDCC, Nusa Dua, Bali, quoted from Antara, Friday 26 FEdemnKamis, 24 November.

Airlangga wants the upstream oil and gas industry to be able to record positive growth in the future.

One of them is by encouraging investment rates into oil and gas fields in the country.

Furthermore, Airlangga said, collaboration between the central and local governments, business entities, both private property, as well as state property and oil and gas contractors is expected to be even better so that the targets set can be achieved.

"This target is of course very echoing in the state creation in the state budget and also against Indonesian exports," he said.

The former Minister of Industry also views that the issue of incentives for entrepreneurs who are interested in working on Indonesia's oil and gas potential needs attention.

The goal, he continued, is to increase the comfort of domestic investors.