TITLE

Budget Deficit To Breach Target

PUB. DATE
December 2004
SOURCE
Asia Monitor: South East Asia Monitor Volume 2;Dec2004, Vol. 15 Issue 12, p2
SOURCE TYPE
Country Report
DOC. TYPE
Country Report
ABSTRACT
The article reports that Indonesia's new finance minister, Jusuf Anwar, has conceded that 2004's budget deficit will exceed the official target of IDR26. Record-high world oil prices have put pressure on state finances in 2004 due to runaway fuel subsidies. The cost of a barrel of Minas crude, Indonesia's benchmark oil blend, has far exceeded that US$ 22 assumed in the government's original budget and is testing the US$ 36 assumed in budget revisions approved on September 28. It further informs that in October, Vice President Jusuf Kalla said the government would have to consider raising fuel prices next year if oil prices remain high. Raising fuel prices would be a difficult policy decision for President Susilo Bambang Yudhoyono, who won September's presidential run-off after vowing to improve the economic lot of the poor.
ACCESSION #
15052980

 

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