- Antara/ Aguk Sudarmojo
VIVAnews - The worsening political crisis in Egypt has caused world oil prices to soar to up until US$100 per barrel. Nonetheless, Indonesian Minister of Finance Agus Martowardojo believes the current phenomenon is only temporary. "It will be back to normal in no time," he said today, Feb 4.
Minister Agus emphasized the government's policy of maintaining the budget at the initial assumption. The Indonesian government sets the basic assumption of oil prices in the State Budget at US$80 per barrel.
On the other hand, Coordinating Minister for the Economy Hatta Radjasa said the political turmoil in Egypt will only affect oil prices in the short run. "Egypt is not an oil producing country," Hatta said.
Hatta weighs another factors which may not lead to more rise in oil prices such as falling oil demand from the US and OPEC's plan of rising production by 1.5 million barrels.
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Translated by: Bonardo Maulana W
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