Indonesia minister says sustained high oil prices could see budget deficit breach mandated limit
By Stefanno Sulaiman
Published on March 13, 2026.
Indonesian's senior economic minister, Airlangga Hartarto, has warned that sustained high oil prices could cause the country's budget deficit to exceed its legal mandate of 3% of GDP. He also suggested that Indonesia may impose additional taxes on certain commodities, such as palm oil, if necessary to reduce the impact of rising global oil prices. The country's President, Prabowo Subianto, also mentioned the possibility of an emergency order if the deficit limit needed to be breached. The government has forecasted three scenarios for how the Middle East war could impact Southeast Asia's largest economy.
Related Articles
US economy grew much more slowly than previously reported in fourth quarter
The US economy grew significantly slower than initially reported, with fewer people out and more likely to fall victim to the oil price.
Wall Street's Most Accurate Analysts Weigh In On 3 Energy Stocks Delivering High-Dividend Yields - Evolution Petroleum (AMEX:EPM), Kimbell Royalty Partners (NYSE:KRP)
The most accurate analysts in the world assesses three high-profile high-yielding energy stocks: Evolution Petroleum, Empt.
San Francisco Mayor's Team Attacked Shortly After Admission of City's Dismal State
San Francisco Mayor Daniel Lurie's team was attacked by two men, prompting a plea for governance reforms and arrests.