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.
17 February 2020 (closed)
USD/IDR (13,717) +41.01 +0.30%
EUR/IDR (14,815) +10.10 +0.07%
Jakarta Composite Index (5,867.52) +0.58 +0.01%