TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

New energy minister Arifin to focus on trade deficit

  • Norman Harsono
    Norman Harsono

    The Jakarta Post

PREMIUM
Jakarta   /   Fri, October 25, 2019   /  07:40 am
The Jakarta Post Image
Newly appointed Energy and Mineral Resources Minister Arifin Tasrif, outgoing minister Ignasius Jonan and outgoing deputy minister Arcandra Tahar attend a handover ceremony in Jakarta on Wednesday.(JP/Norman Harsono)

Newly appointed Energy and Mineral Resources Minister Arifin Tasrif is set to direct his policies toward closing Indonesia’s trade deficit, which came about largely because of oil imports. “We are currently facing a current account deficit and a trade deficit, which should be everyone’s concern,” he said during a handover ceremony with outgoing minister Ignasius Jonan and outgoing deputy minister Arcandra Tahar in Jakarta on Wednesday. Indonesia booked a US$439 million trade deficit last year mainly as a result of the oil industry, whose $18.42 billion deficit was minimized by surpluses in other sectors, including gas, according to Bank Indonesia (BI) data. Various ministerial policies issued under the first Cabinet to reduce oil imports include an increase of domestic oil production, the use of renewable energy and the switch to a 30-percent biofuel mix ...