Ada Pertanyaan? Hubungi Kami 
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Ada Pertanyaan? Hubungi Kami Christina Desy, Fathan Qorib, ANT
With under aweek before the inauguration of the president-elect Joko Widodo, the Rupiah’s exchange rate against the United States Dollar continues to fall.In recent days, the Rupiahhas fallen to the IDR 12,000 per US dollar level. According to Bank Indonesia (BI), this is due to current political uncertainty in Indonesia, causing investors to be cautious and weakening the Rupiah’s exchange position.
However, looking forward, Mirza Adityaswara, Senior Deputy Governor of BI, has high expectations for the new administration to be able to handle this situationby making every possible effort to attract more capital inflows. BI hopes that the government of president-elect Joko Widodo will determine its policies in line with its economic reform objectives and implement them in accordance with the prudent principle.
In the energy sector, for example, Mr. Adityaswara emphasized that the new administration must reduce subsidizedfuel imports and strive harder to search for alternative energy sources. Furthermore, the new administrationmust establish a healthy State Budget, e.g. by reducing budget for subsidies. Under this approach, the new administrationwill be able to utilize funds to construct more infrastructure which will assist in boosting economic growth.
Nugroho SBM, economist from Universitas Diponegoro, shares Mr. Adityaswara’s view on focusing on the subsidizedfuel issue. In his view, the newadministration has no option than to increase fuel prices. This is due to the fact that current fuel reserveswill not be able to satisfy domestic requirementsas currentoil lifting is lower than national demand. Thisis evident from data onIndonesia’s actual oil liftingand domestic oil consumption, the former which standsat 820,000 barrel/day, while Indonesia needs approximately 1.5 million barrel/day.
The primary challenge is to determine a price that can cater to the interests of both the government and the public. The fuel price must work to suppress subsidies but at the same time not burden the public nor hampering the national economy. Mr. Nugroho believes that an increase of IDR 500 is suitable and realistic.
In addition, Mr. Nugroho is also encouraging Joko Widodo’s cabinet to better police speculators in order to prevent subsidizedfuel from being misused for individual profit. Moreover, Mr. Nugroho is also urging the government to strengthen legal enforcement over such speculators.
(hot/kc)
Christina Desy, Fathan Qorib, ANT
With under aweek before the inauguration of the president-elect Joko Widodo, the Rupiah’s exchange rate against the United States Dollar continues to fall.In recent days, the Rupiahhas fallen to the IDR 12,000 per US dollar level. According to Bank Indonesia (BI), this is due to current political uncertainty in Indonesia, causing investors to be cautious and weakening the Rupiah’s exchange position.
However, looking forward, Mirza Adityaswara, Senior Deputy Governor of BI, has high expectations for the new administration to be able to handle this situationby making every possible effort to attract more capital inflows. BI hopes that the government of president-elect Joko Widodo will determine its policies in line with its economic reform objectives and implement them in accordance with the prudent principle.
In the energy sector, for example, Mr. Adityaswara emphasized that the new administration must reduce subsidizedfuel imports and strive harder to search for alternative energy sources. Furthermore, the new administrationmust establish a healthy State Budget, e.g. by reducing budget for subsidies. Under this approach, the new administrationwill be able to utilize funds to construct more infrastructure which will assist in boosting economic growth.
Nugroho SBM, economist from Universitas Diponegoro, shares Mr. Adityaswara’s view on focusing on the subsidizedfuel issue. In his view, the newadministration has no option than to increase fuel prices. This is due to the fact that current fuel reserveswill not be able to satisfy domestic requirementsas currentoil lifting is lower than national demand. Thisis evident from data onIndonesia’s actual oil liftingand domestic oil consumption, the former which standsat 820,000 barrel/day, while Indonesia needs approximately 1.5 million barrel/day.
The primary challenge is to determine a price that can cater to the interests of both the government and the public. The fuel price must work to suppress subsidies but at the same time not burden the public nor hampering the national economy. Mr. Nugroho believes that an increase of IDR 500 is suitable and realistic.
In addition, Mr. Nugroho is also encouraging Joko Widodo’s cabinet to better police speculators in order to prevent subsidizedfuel from being misused for individual profit. Moreover, Mr. Nugroho is also urging the government to strengthen legal enforcement over such speculators.
(hot/kc)