Cheap oil has given Indonesia flexibility with fuel subsidies, but the market's current rout won't last, according to the country's finance minister.
Speaking to CNBC in an exclusive interview this week, finance minister Bambang Brodjonegoro said oil's recent slump is "a price war," rather than a change in structural market conditions.
"It's not sustainable; [oil] might be low maybe for a year... after that, I believe it will go back slowly to the normal price," he said.
Economists call oil's recent rout a boon for President Joko Widodo as it gave him breathing room to announce a smaller-than-expected fuel price hike last month. Widodo increased subsidized petrol prices by 2,000 rupiah ($0.16) in November, instead of an anticipated 3,000 rupiah ($0.25) hike.
Brent crude has tumbled over 40 percent since June and traded in a bear market since October amid a supply glut from the U.S. and OPEC (Organization of the Petroleum Exporting Countries) members.