Indonesia Assures Stable Oil Supply Amid Middle East Tensions

Indonesia's government has moved to reassure the public that the nation's energy supply remains secure, even as geopolitical tensions escalate in the Middle East.

Minister Secretary of State Prasetyo Hadi stated on Wednesday that the government is closely monitoring the situation and has taken steps to anticipate any potential economic fallout. President Prabowo Subianto convened a special economic meeting with relevant ministers to discuss the implications of the heightened tensions, particularly concerning global oil prices and their impact on Indonesia's fiscal stability.

“

We need to anticipate several things, especially maintaining our fiscal health should the dynamics in the Middle East, for example, affect oil prices again.

"We need to anticipate several things, especially maintaining our fiscal health should the dynamics in the Middle East, for example, affect oil prices again," Hadi explained. However, he emphasized that there is no cause for public concern regarding national oil supplies. "We can convey that there is no need to worry. Once again, regarding our oil supply, it is safe, even though the dynamics in the Middle East and the Strait of Hormuz are heating up again."

“

We can convey that there is no need to worry. Once again, regarding our oil supply, it is safe, even though the dynamics in the Middle East and the Strait of Hormuz are heating up again.

Beyond oil prices, the government is also focused on the stability of the rupiah exchange rate. President Prabowo has instructed all government officials to maintain economic stability at both macro and micro levels. As part of its anticipatory measures, ministries and agencies have been urged to accelerate programs that stimulate the real economy, ensuring economic activity continues amidst global uncertainties.

In addition to addressing external economic threats, President Prabowo is also receiving regular updates on the national economy from the National Economic Council (DEN). A recent three-hour briefing covered various analyses of the country's economic condition. The government's strategy includes not only managing macro-economic factors but also implementing micro-economic initiatives, such as expediting projects like the Kampung Nelayan (Fishermen's Village) development, to keep the economy robust.

“

One of the anticipations is maintaining the macro. The technical aspects are varied, maintaining the micro is also varied. One of them is that the real economy must be pushed. That is a government program, for example, regarding the development of Kampung Nelayan. Fishermen's facilities are asked to be accelerated because that is also part of the...