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106173
Fri, 02/12/2010 - 09:55
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https://oananews.org//node/106173
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GOVT TO REVISE ASSUMED OIL PRICE IN 2010 STATE BUDGET
Jakarta, Feb 11 (ANTARA) - The government will surely revise the oil price (US$65 per barrel) assumed in the 2010 State Budget in line with current oil market developments, Finance Minister Sri Mulyani said.
"We will no doubt revise the assumed oil price and readjust it to prevailing trends," Mulyani said at the Finance Ministry building here Thursday.
She said in the 2010 State Budget, the assumed oil price had been set at U$65 per barrel, but the actual market price was now approaching a range of US$70 to US$80 per barrel.
"Our Fiscal Policy Board (BKF) has reported the probabilty of the oil price ranging between US$70 and US$80 per barel. We will find a point between the two figures," she said.
Asked how the readjusment in the assumed oil price would affect the government fuel oil subsidy burden, Mulyani said the State Budget was now in a healthy condition and thus considered capable of continuing to serve the public, including in terms of preserving the people`s purchasing power and public confidence.
About expected developments in the country`s macro-economic indicators, the minister said economic growth in 2010 was expected to reach 5.5 percent.
The expectation would be supported by a household economic consumption growth of 5.2 percent, government spendings growth of 8.2 percent, investment growth of 7.2 percent, export growth of 11.4 percent and import growth of 14.6 percent.
Sector-wise, agriculture was estimated to grow 3.8 percent, industry 3.7 percent, and services 6.1 percent, she said.
Inflationary pressures would put the inflation rate at between 5.5 percent and 5.7 percent on the back of a surge in world market prices of prime commodities and in global demand in line with world economic recovery.
Indonesia`s unemployment rate was projected to drop to between 7.5 percent and 8.0 percent as a result of higher economic growth. The poverty rate was estimated to decline to between 12,0 percent and 13.5 percent.
The Finance Ministry would also strive to take a number of strategic steps such as continuing to provide fiscal stimuli and tax incentives, financing support for development of infrastructures, energy, exports, fiscal decentralization, incentives for the regions, and food resilience.
The fiscal stimuli program would be continued in order to accelerate economic growth until the third quarter of 2010, the minister said.
end
"We will no doubt revise the assumed oil price and readjust it to prevailing trends," Mulyani said at the Finance Ministry building here Thursday.
She said in the 2010 State Budget, the assumed oil price had been set at U$65 per barrel, but the actual market price was now approaching a range of US$70 to US$80 per barrel.
"Our Fiscal Policy Board (BKF) has reported the probabilty of the oil price ranging between US$70 and US$80 per barel. We will find a point between the two figures," she said.
Asked how the readjusment in the assumed oil price would affect the government fuel oil subsidy burden, Mulyani said the State Budget was now in a healthy condition and thus considered capable of continuing to serve the public, including in terms of preserving the people`s purchasing power and public confidence.
About expected developments in the country`s macro-economic indicators, the minister said economic growth in 2010 was expected to reach 5.5 percent.
The expectation would be supported by a household economic consumption growth of 5.2 percent, government spendings growth of 8.2 percent, investment growth of 7.2 percent, export growth of 11.4 percent and import growth of 14.6 percent.
Sector-wise, agriculture was estimated to grow 3.8 percent, industry 3.7 percent, and services 6.1 percent, she said.
Inflationary pressures would put the inflation rate at between 5.5 percent and 5.7 percent on the back of a surge in world market prices of prime commodities and in global demand in line with world economic recovery.
Indonesia`s unemployment rate was projected to drop to between 7.5 percent and 8.0 percent as a result of higher economic growth. The poverty rate was estimated to decline to between 12,0 percent and 13.5 percent.
The Finance Ministry would also strive to take a number of strategic steps such as continuing to provide fiscal stimuli and tax incentives, financing support for development of infrastructures, energy, exports, fiscal decentralization, incentives for the regions, and food resilience.
The fiscal stimuli program would be continued in order to accelerate economic growth until the third quarter of 2010, the minister said.
end
