REPUBLIKA.CO.ID, JAKARTA – The Iranian moves to halt oil sales to Europe makes Indonesian government reconsiders its state budget (APBN) as the oil price exceeds its previous assumption. The Coordinating Ministry of Economic Affairs also expects to curb the inflation caused by the recent situation. 

“We will hold talks with the Ministry of Energy and Mineral Resources to find a better solution. We should make an agreement following the high price of oil, which is 115 USD per barrel,” the Coordinating Minister of Economic Affairs, Hatta Radjasa, said. 

He said, it was not wise if the government locked the option related to fuel subsidy. “It is not wise not to increase the fuel price, but several options are still open. We will reconsider it carefully,” he said. 

Indonesian state budget is short

The Iranian move also predictably causes the fuel price assumption in APBN is exceeded. The government will change the 2012 APBN immediately. According to Hatta Radjasa, the fuel price now is exceeding the APBN assumption. “We should discuss the assumption in APBN alteration,” he said on Monday.

The APBN which is usually held in the middle year will be accelerated in April. “We have the strong reason to do it. The fuel price is now higher than 10 percent of the assumption,” he added.

The APBN alteration will be focused on APBN posture. Several macro assumptions will be changed. “For example, ICP  (in situ conversion process -ed) will be examined as well as lifting assumption,” he said. Lifting will be maintained in rational value to the recent global economic condition. However, the government will study some corrections. “We will calculate the actual number,” he said.

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