Jakarta (Antara Bali) - The rupiah's weakening against the dollar may push a surplus in the 2015 state budget by up to Rp2.3 trillion, Finance Minister Bambang Brodjonegoro said.
"If the rupiah weakens by Rp100 against the dollar, while other assumptions in the state budget remain unchanged, then our budget surplus will increase by Rp2.3 trillion," he told a press conference here on Tuesday.
The Rp2.3-trillion budget surplus will be the difference between additional revenues from the oil and gas sector, including mining royalties, caused by the rupiah's depreciation and extra interest debt payments, he noted.
"The difference will increase our budget surplus. This suggests that the rupiah's weakening will not threaten the budget. Fiscal risks in 2015 will only affect the target of tax receipts," he explained.
In any case, the government by no means will capitalize on the rupiah's depreciation against the dollar. It will be better if the rupiah stops fluctuating and begins to be stable with its fundamental value, he noted.
"What is most important for us is our macro stability. The rupiah's value must really reflect its fundamental value so that our exports will increase while at the same time the current account deficit can be kept in check," he pointed out.
The minister emphasized the government will always stay alert for the movement of the rupiah's exchange rate and create policies in anticipation of global economic pressure, although the global economic condition was relatively safe. "The current situation is under control, so there is no reason to panic. And what is most important is that the current scenario is different from that in 1998," he added. (WDY)
