Jakarta –
Minister of Investment / Investment Coordinating Board (BKPM) Bahlil Lahadalia again touched on the issue of the fuel subsidy burden on the state budget. Bahlil said: fuel prices in the state budget, it is around US$ 63 – US$ 70 per barrel, while world oil prices continue to soar.
“The price of oil in our state budget is around US$ 63 – US$ 70 per barrel. Now the world oil price from January to July is US$ 105 per barrel. Today if the price is US$ 100/barrel, our subsidy could reach Rp 500 trillion,” said Bahlil at the Ministry of Investment Building, Friday (12/8/2022).
In fact, if the price of oil is above US$ 100 and the government continues to hold the price, the government subsidy could reach Rp 600 trillion. The assumption is that the dollar exchange rate is at Rp 14,750, and the government will increase the Pertalite quota from 23 million kiloliters to 29 million kiloliters.
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“How long will our state budget be strong enough to face such a high subsidy? So please also convey to the people that it feels good to hold on fuel prices like now, my feeling is that I have to be prepared, if we say that the fuel price increase occurs,” he added.
Bahlil explained that the Rp 500 trillion – Rp 600 trillion subsidy is equivalent to 25% of the total state budget revenue. According to him, this is not healthy for state finances.
The former chairman of HIPMI added, fuel prices high levels are common in Papua. Even when the price touched Rp. 19 thousand/liter, there was no protest from the public. However, he predicts that other regions will respond differently to the increase in fuel prices.
“In Papua, the price of oil is usually high. In the past, the price of Rp. 19 thousand was never a fuss. Here, the increase of Rp. It’s important that the goods are there,” he added.
Furthermore, Bahlil considers that now is the right moment to maintain the fiscal health of the country, and invites the public to work together.
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