Prabowo Raises Concerns Over Surge in Oil Prices, Purbaya Assures State Budget Remains Secure

Finance Minister Purbaya Yudhi Sadewa revealed his conversation with President Prabowo Subianto when global oil prices surged sharply, approaching $100 per barrel amid the Middle East conflict.

Purbaya explained that during a meeting at the President’s residence on Jalan Kertanegara in Jakarta, concerns arose that the oil price spike could disrupt the stability of the State Revenue and Expenditure Budget (APBN).

In that meeting, Prabowo directly inquired about Indonesia’s fiscal condition.

The President then tested fiscal resilience with a scenario of even higher global oil prices.

“What if (global oil prices reach) $100 per barrel?” Prabowo asked.

Purbaya affirmed that the government had anticipated such a situation.

According to Purbaya, the Ministry of Finance has undertaken various mitigation steps to keep the APBN stable amid global pressures, particularly from energy price surges.

However, these efforts were acknowledged as not yet fully conveyed to the public.

Therefore, moving forward, the government will strengthen public communication regarding fiscal conditions.

Purbaya also emphasised that the government is not panicking in facing global turbulence, although he admitted the internal meeting dynamics were quite intense.

“Even in such circumstances, we never panic. Outside, we never panic, although the meeting was panicky too,” he said.

Nevertheless, he assured that all calculations in the APBN are conducted in a measured and transparent manner.