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Joko Widodo

Indonesia Calculating Cost of Keeping Fuel Prices Unchanged - President

Joko Widodo
Fuel Station

KONTAN.CO.ID - JAKARTA. Indonesia's president on Thursday said his government was calculating how much longer it can sustain a policy of keeping fuel prices unchanged, while the central bank governor hinted at keeping rates steady at an upcoming policy review.

President Joko Widodo signalled earlier this week that the government was considering raising fuel prices. He has also repeatedly said the energy subsidy budget, which has been tripled to 502 trillion rupiah ($33.84 billion) this year, is too large.

"This is such a large figure and we must know what this is for: to hold back a steep rise in inflation," Jokowi, as the president is popularly known, told a national coordinating meeting on inflation management.

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