Jakarta, March 5 -- Indonesia's outlook downgrade by Fitch Ratings reflects mounting global economic pressures stemming from escalating conflict in the Middle East, Coordinating Economic Minister Airlangga Hartarto said on Thursday.

Fitch revised Indonesia's sovereign credit outlook to negative from stable while affirming its long-term foreign currency rating at BBB, maintaining the country's investment-grade status.

Speaking at a semiconductor talent program briefing in Jakarta, Airlangga said the government would study Fitch's assessment and strengthen key economic fundamentals.

He noted that intensifying tensions in the Middle East are increasing global uncertainty, prompting reassessments by international credit rating agencies.

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