Indonesian Vice President Jusuf Kalla said on Friday that the soaring oil price in international market will not hurt the country's economy.
The vice president told a press conference that Indonesia's economy was did not rely much on industrial sector, which would get the serious impact from the rise of oil price.
"I am confidence that our country's economy is still good," said Kalla at his office here, adding that Indonesia's economy has relied on export of commodities.
Despite the slowdown of the global economy, it would not hurt the Indonesia's export of commodities, he said.
"The commodities that we export are essential products. They are still basically needed. The volume would not decrease much," he added.
Kalla also said that the rise of the price would increase the country's subsidy's on oil sector but at the same time it would enjoy the rise of revenue from oil export.
Besides, the rise of the price would also trigger the increase of revenue from tax of minerals, which their price boosted by the oil rise, he said.
To get more benefit from the situation, the country wanted to increase export of commodities which its price would rise, Kalla said.
"We must boost (the production) those products which their price rise under this situation," he said.
Kalla cited that under the condition the government would not increase oil price in domestic, but slowly decrease their subsidy and speed up electric production.
He said that Indonesia would get benefit by increasing the number of foreign tourists from Middle East as the impact of high demand of oil.
Crude oil price hit more than 90 U.S. dollars per barrel recently partly due to high demand and global political uncertainty.
Source:Xinhua
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