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Indonesia president considers cutting fuel price amid coronavirus
[JAKARTA] Indonesian President Joko Widodo on Wednesday asked his cabinet ministers to calculate the impact of falling global oil prices on domestic subsidised and non-subsidised fuel prices to protect the economy from the impact of the coronavirus outbreak.
He ordered his ministers to estimate how long oil prices would stay around US$30 per barrel and what this would mean to South-east Asia's largest economy and to fuel prices.
The Indonesian government has pledged US$8 billion of stimulus to encourage economic growth, including tax breaks for some workers in manufacturing, as the coronavirus pandemic disrupts global economy.