Gov’t Prepares Fiscal Strategies to Keep Subsidized Fuel Prices Stable Through Year-End

The Government is preparing several fiscal strategies to keep subsidized fuel prices stable through the end of the year while maintaining the sustainability of the country’s public finances. These strategies were discussed during a meeting between President Prabowo Subianto and the National Economic Council (DEN) at Merdeka Palace, Jakarta, Tuesday (10/20).

DEN member and Executive Secretary Septian Hario Seto said that the Government’s policy of maintaining subsidized fuel prices was an important measure to protect people’s purchasing power. He noted that the policy must be backed by well-balanced fiscal strategies to maintain price stability without hurting the country’s fiscal health.

“We also reported our assessment of fuel prices to the President. We told him that the Government’s decision to maintain subsidized fuel prices was the right one, particularly in protecting people’s purchasing power during this period,” Seto said after the meeting.

During the discussion, DEN also outlined several fiscal strategies that the Government could pursue through the Ministry of Finance, with support from the Daya Anagata Nusantara Investment Management Agency (BPI Danantara).

“We also discussed several fiscal strategies that the Government and the Ministry of Finance could implement, with assistance from Danantara, to ensure that fuel prices can be kept stable through the end of the year while maintaining fiscal sustainability,” he added.

In addition to short-term strategies, DEN also discussed several long-term measures to make sure that energy subsidies are better targeted. (BPMI of Presidential Secretariat) (FI/AW)