Finance Minister Purbaya Yudhi Sadewa rejected the narrative claiming that Indonesia’s economy would collapse when oil prices surge. According to Purbaya, such statements are often delivered by analysts on platforms such as TikTok and YouTube.

Purbaya criticized those analyses, saying they fail to examine the data comprehensively. Based on past experience, he explained that Indonesia’s economy does not always deteriorate when oil prices rise sharply.

During his presentation to President Prabowo Subianto, Purbaya said that concerns about rising global oil prices have actually surfaced several times in the past. Therefore, he urged the public not to be overly worried.

“So we don’t need to be afraid, Sir. Analysts on TikTok and YouTube who say we will collapse have never really looked at the data,” Purbaya said during the Plenary Cabinet Meeting at the State Palace on Friday (March 13, 2026).

Purbaya presented data comparing the movement of Brent crude oil prices with Indonesia’s economic performance. He cited the 2007–2008 period when Brent prices surged dramatically to more than US$220 per barrel.

“However, with the right fiscal and monetary policies at that time, our economy was still able to grow by 4.6%. This shows that we were careful enough to manage the situation,” Purbaya added.

He also highlighted another period of rising oil prices in 2011, when Brent crude traded around US$110 to US$120 per barrel. According to him, during that period Indonesia’s domestic economic indicators continued to show positive trends.

Purbaya said a similar experience also occurred after the COVID-19 pandemic. When oil prices climbed again above US$100 per barrel, the domestic economy remained resilient and even showed signs of recovery.

For that reason, Purbaya believes there is no need for excessive concern over fluctuations in global oil prices as long as economic policies are implemented properly.

“In other words, if we have the right policies—both monetary and fiscal—as well as the policies you will implement later, even if global economic conditions and oil prices become volatile, we have the methods and experience to control their impact on our economy. So we don’t need to be afraid, Sir,” Purbaya concluded.