{
    "success": true,
    "data": {
        "id": 1581248,
        "msgid": "trade-minister-budi-formulates-strategy-to-mitigate-iran-israel-conflict-impact-1772450285",
        "date": "2026-03-02 15:49:07",
        "title": "Trade Minister Budi Formulates Strategy to Mitigate Iran-Israel Conflict Impact",
        "author": "",
        "source": "VIVA",
        "tags": "bisnis",
        "topic": "Trade",
        "summary": "Indonesia's Trade Minister Budi Santoso has unveiled an anticipatory strategy to mitigate the economic fallout from escalating US and Israeli military actions against Iran, with particular focus on the trade and energy sectors. Whilst previous Iran-Israel conflicts have not significantly impacted Indonesia's economy, a potential closure of the Strait of Hormuz could drive up global oil prices and increase production and logistics costs for manufacturers and exporters. The government plans to diversify export destinations to less conflict-affected markets, maximise existing stimulus measures ahead of Ramadan, and strengthen private-sector collaboration to sustain domestic consumption.",
        "content": "<p>The Indonesian government is preparing a series of anticipatory\nmeasures to mitigate the global economic impact of escalating attacks by\nthe United States and Israel on Iran, particularly regarding the trade\nsector.<\/p>\n<p>Trade Minister Budi Santoso stated that whilst previous Iran-Israel\nconflicts have not significantly affected Indonesia\u2019s economy, an\nescalation leading to the closure of the Strait of Hormuz could\npotentially cause global oil prices to surge. Rising energy costs would\ndirectly impact production expenses, transportation fees, and consumer\ngoods prices.<\/p>\n<p>\u201cOil and raw material prices will surely increase,\u201d Budi explained\nwhen met at the Trade Ministry office in Jakarta on Monday, 2 March\n2026. \u201cHowever, our economic growth is largely supported by domestic\nconsumption. So we must empower that and maintain it.\u201d<\/p>\n<p>He noted that the manufacturing and export sectors will be most\naffected by increased production and logistics costs. However, this\nchallenge is not unique to Indonesia but is global in nature. Therefore,\nthe government\u2019s second strategy is to encourage exports to markets\nrelatively unaffected by the conflict. Export destination\ndiversification is considered crucial to maintain trade momentum amid\nglobal uncertainty.<\/p>\n<p>The government will maximise various stimulus measures already in\nplace, particularly ahead of the Ramadan season, and will promote\ncollaboration with the private sector to sustain domestic economic\ncirculation.<\/p>\n<p>\u201cWe will anticipate this, maintain the positive momentum. Especially\nwith Ramadan coming, I believe there are many stimulus measures already\nprovided by the government. We will continue to work with the private\nsector to strengthen purchasing power in our domestic market,\u201d he\nexplained.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/trade-minister-budi-formulates-strategy-to-mitigate-iran-israel-conflict-impact-1772450285",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}