Economic growth to be hindered if planned domestic fuel price gain is scrapped.

By bne IntelliNews April 3, 2012
Indonesia's economic growth is likely to be hindered if a planned domestic fuel price gain is scrapped. As reported by Dow Jones Business News, nearly half of the country's population still survives below USD 2 per day, making the intended fuel price enhancement a highly unpopular move. The government is in talks with the Parliament proposing for revisions to the budget, including a plan to increase subsidized fuel prices by 33% starting April, this year as a rapid gain in global oil prices threatens the present budget. The economic growth is forecasted at 6.5% for this year, in the revised budget proposal, lower compared to an initial projection of 6.7%, although still at the same pace as that during last year.

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