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Indonesia Considers Resource Taxes Amid Rising Oil Prices

3/14/2026

Summary

Story summary

Airlangga Hartarto, Indonesia's senior economic minister, announced on March 13 that Indonesia is considering taxes on palm oil, nickel, gold, and copper to offset budget impacts from oil prices caused by Middle East war.
The government foresees three oil-price scenarios, with deficits exceeding 4% of GDP if prices stay high.
President Prabowo Subianto noted possible austerity measures.
Goldman Sachs expects Brent to average over $100 per barrel in March.

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Story summary

Airlangga Hartarto, Indonesia's senior economic minister, announced on March 13 that Indonesia is considering taxes on palm oil, nickel, gold, and copper to offset budget impacts from oil prices caused by Middle East war.
The government foresees three oil-price scenarios, with deficits exceeding 4% of GDP if prices stay high.
President Prabowo Subianto noted possible austerity measures.
Goldman Sachs expects Brent to average over $100 per barrel in March.