Senin, 14 Juli 2008

Energy subsidy may hit Rp 300 trillion in 2009

Aditya Suharmoko, Jakarta Post, 07/09/2008.

The government may spend Rp 300 trillion (US$32.55 billion) on energy subsidies next year, or close to a 50 percent rise from this year, assuming oil prices average $140 per barrel, Finance Minister Sri Mulyani Indrawati said Tuesday.

For this year, the government has estimated energy subsidy allocations -- including fuel and electricity subsidies -- at Rp 200.6 trillion, assuming the ICP to be $110 per barrel. The estimate is a revision of an earlier Rp 187.1 trillion state-budget projection, which set the ICP at $95 per barrel.

The fuel subsidy accounts for about 65 percent of the total energy subsidy.

[Full article]

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