Indonesia’s Jokowi pledges to eliminate fuel subsidies slowly: media

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Indonesian presidential frontrunner Joko “Jokowi” Widodo said he would gradually eliminate costly fuel subsidies over a four year period if he wins a July election, The Jakarta Post newspaper quoted him as saying on Friday.Fuel subsidies, which the government argues largely benefit the rich, cost the government around $20 billion a year and put pressure on the current account deficit.”In four years, the fuel subsidy should be eliminated gradually, step by step, until it’s gone,” Jokowi said on the sidelines of a national development planning conference on Wednesday, according to The Jakarta Post.President Susilo Bambang Yudhoyono raised fuel prices last year, but the issue is politically sensitive and attempts to go too quickly have been met with strong resistance and demonstrations.

For full report read ….. http://www.reuters.com/article/2014/05/02/us-indonesia-oil-subsidies-idUSBREA4102520140502

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