Last week, Indonesian President Joko Widodo introduced higher subsidized fuel prices in Southeast Asia’s largest economy in a bid to shift generous public spending from fuel consumption to productive and structural economic and social development. Prices of subsidized low-octane gasoline (premium) and diesel (solar) were raised by over 30 percent, or IDR 2,000 (USD $0.17) per liter, starting from 00:00 on Tuesday (18/11). Widodo aims to reallocate these funds to infrastructure, social welfare and the maritime sector.
20 November 2019 (closed)
USD/IDR (14,112) +15.00 +0.11%
EUR/IDR (15,630) +20.13 +0.13%
Jakarta Composite Index (6,155.11) +3.02 +0.05%