JAKARTA, Apr 30: Indonesia’s president said today he will raise subsidised fuel prices only after parliament approves compensation for the poor, which is expected to happen in May.
“When will subsidised fuel prices be raised? When the poverty funding is ready,” President Susilo Bambang Yudhoyono told a meeting of senior central government and regional officials.”Hopefully everything will be finalized in May.”
The finance minister earlier this month warned that the rising subsidy bill, which makes fuel in Indonesia about the cheapest in Asia, could push the budget deficit well above the original forecast to as much as 2.4 percent of GDP. (AGENCIES)
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