KONTAN.CO.ID - JAKARTA. Indonesia's president may announce a fuel price hike next week to reduce spending on energy subsidies, senior minister Luhut Pandjaitan said on Friday. Southeast Asia's largest economy has tripled its 2022 energy subsidy budget to 502 trillion rupiah ($33.82 billion) amid rising oil prices and a depreciating rupiah. President Joko Widodo said earlier this week he was considering hiking prices, after Finance Minister Sri Mulyani Indrawati said more money would likely be needed if fuel prices were to be kept unchanged until the year's end.
Indonesia May Hike Fuel Prices Next Week - Minister
KONTAN.CO.ID - JAKARTA. Indonesia's president may announce a fuel price hike next week to reduce spending on energy subsidies, senior minister Luhut Pandjaitan said on Friday. Southeast Asia's largest economy has tripled its 2022 energy subsidy budget to 502 trillion rupiah ($33.82 billion) amid rising oil prices and a depreciating rupiah. President Joko Widodo said earlier this week he was considering hiking prices, after Finance Minister Sri Mulyani Indrawati said more money would likely be needed if fuel prices were to be kept unchanged until the year's end.