OJK: Fuel Price Increase will Improve Fiscal Condition

20 November 2014 12:16 WIB

Antran panjang kendaraan roda dua untuk mengisi BBM di SPBU jalan Diponegoro, Surabaya, Senin 17 November 2014. Antrian pengisian BBM terjadi di sejumlah SPBU di Surabaya sejak Presiden Joko Widodo dan Wakil Presiden Jusuf Kalla serta Menteri ESDM Sudirman Said dan Mendagri Tjahjo Kumolo mengumumkan kenaikan BBM bersubsidi jenis premium naik menjadi Rp. 8.500/liter dari Rp. 6.500/liter dan solar naik menjadi Rp. 7.500/liter dari Rp. 5.500/liter. TEMPO/Fully Syafi

TEMPO.CO, Jakarta - The Financial Services Authority (OJK) said that subsidized fuel price increase will have a positive effect to Indonesia's fiscal health in the near future. "The pressure is temporary. Fuel price increase will improve fiscal health in the long run," said head of OJK's board of commissioners Muliaman D. Hadad on Wednesday, November 19, 2014.

Fuel price increase adds pressure to domestic economy with the increase of inflation rate, but it will only last temporarily. In the long run, the economy is expected to improve. "We will keep monitoring the development," he said.

In relation to the financial industry, the lack of knowledge about financial market, level of access and people's understanding of the financial industry often caused market participants to be more vulnerable to economic crisis."“However, we are certain that Indonesia still has large economic potentials," he said.

JAYADI SUPRIADIN

Financial Industry

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