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Jokowi unveils hefty increase in fuel prices to fix ailing economy

Subsidised petrol will rise to 8,500 rupiah a litre from 6,500 rupiah from Tuesday; move will free up funds for programmes to help poor and boost economic growth

Published Mon, Nov 17, 2014 · 09:50 PM
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Jakarta

INDONESIAN President Joko Widodo on Monday raised fuel prices to free up funds for ports and programmes for the poor, fulfilling an election pledge to curtail a decades-old subsidy that has constrained government finances.

The price of subsidised petrol will increase to 8,500 rupiah (S$0.90) a litre from 6,500 rupiah effective from Tuesday, Mr Joko, who is also popularly known as Jokowi, told reporters in Jakarta on Monda…

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