KONTAN.CO.ID - JAKARTA. Indonesia will allocate very large energy subsidies in 2023 to stabilise prices, even as the government predicts windfall revenues from high commodity prices to decline, its finance minister said on Monday after attending a cabinet meeting. Southeast Asia's largest economy this year has budgeted 502 trillion rupiah ($33.75 billion) in subsidies and compensations to keep some fuel prices and power tariffs unchanged and control domestic inflation amid soaring global energy prices. "Next year's (subsidies and compensations) will still be very large," Finance Minister Sri Mulyani Indrawati said, adding that President Joko Widodo will unveil the figure when he presents his budget proposal to parliament on Aug. 16.
Indonesia Plans Large Energy Subsidies for 2023 - Finance Minister
KONTAN.CO.ID - JAKARTA. Indonesia will allocate very large energy subsidies in 2023 to stabilise prices, even as the government predicts windfall revenues from high commodity prices to decline, its finance minister said on Monday after attending a cabinet meeting. Southeast Asia's largest economy this year has budgeted 502 trillion rupiah ($33.75 billion) in subsidies and compensations to keep some fuel prices and power tariffs unchanged and control domestic inflation amid soaring global energy prices. "Next year's (subsidies and compensations) will still be very large," Finance Minister Sri Mulyani Indrawati said, adding that President Joko Widodo will unveil the figure when he presents his budget proposal to parliament on Aug. 16.