Economic players can handle oil price: Indonesian minister

• Source: Xinhua
• [16:57 June 12 2009]
• Comments

Indonesian government said that the world's crude oil price would not pose serious problem for economic players because they have been used to the condition for the last few years, the Bisnis Indonesia daily quoted a minister as saying on Friday.

The Finance Minister Sri Mulyani Indrawati admitted that oil price surge, which reached 72 US dollars per barrel now, always posed consequence on the state budget structure. However, the government has conducted reviews related to resilience of 2009 state budget and 2010 state budget plan.

"The government has experience (of this condition) for the last few years. I think economic players and rating agencies have calculated the risk and they do not consider it as a very serious factor," he said.

The world's oil price has reached 72 dollar per barrel yesterday, the highest level in seven months at Asian trading. The surge was prompted by ending crisis peak in the US economy, triggering expectation of sooner than estimated recovery.

This month, the International Energy Agency projected that oil price could reach 56.7 dollar per barrel in the end of this year, up from May projection of 51.7 dollar per barrel.