Jokowi to raise petrol, diesel prices by 50%

Jakarta

INDONESIA'S President-elect Joko Widodo plans to raise subsidised petrol and diesel prices by around 50 per cent next month, in a bid to bring down the budget deficit in South-east Asia's largest economy, an adviser told Reuters on Friday.

The new government will be taking a highly unpopular step, but some worries for the minority coalition's future were eased by opposition leader Prabowo Subianto offering qualified support for Mr Joko's administration at a joint news conference following the rivals' first meeting since a disputed election in July.