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.
Due to be sworn in on Monday, Mr Joko also known widely as Jokowi urgently has to address Indonesia's …
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil settles lower as US business activity cools, concerns over Middle East ease
Orsted says Taiwan wind project to power TSMC on track for 2025 finish
Gold edges down as Middle East worries ebb
Oil rises as dollar slips, focus shifts to economic data
California to wrap up ExxonMobil plastics probe ‘in weeks’, AG says
Gold edges higher; hovers near one-week low on tempered Middle East fears