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fuel prices

Indonesian President Likely to Weather Fuel Price Rise Uproar, Analysts Say

fuel prices
President Joko Widodo bit the bullet and raised subsidised fuel prices by about 30% on Saturday

KONTAN.CO.ID - JAKARTA. Thousands of people joined protests across Indonesia this week against a fuel price increase but even as anger mounts on the streets of Southeast Asia's largest economy, analysts say President Joko Widodo is well placed to weather the storm.

Under pressure to address a ballooning energy subsidy budget the president, popularly known as "Jokowi", announced on Saturday that fuel prices would be increased by about 30%, the first such increase since 2014.

Attempts by his predecessor to cut fuel subsidies were stymied by violent protests but with a commanding approval rating and a broad coalition supporting him, Jokowi is set to ride out the uproar relatively unscathed, and even position himself as a kingmaker for a 2024 election, analysts say.

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