TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Energy subsidy swells to Rp 97.6 trillion: Sri Mulyani
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
An online motorcycle taxi driver fills his tank at a gas station in Jakarta on Nov. 21. (Antara/Akbar Nugroho Gumay)
T
he government spent an additional Rp 7.7 trillion (US$ 539 million) on energy subsidies in 2017 due to the increasing global price of crude oil in recent months, according to Finance Minister Sri Mulyani Indrawati.
Energy subsidies reached Rp 97.6 trillion in total, from the Rp 89.9 trillion targeted in the 2017 state budget, she said at a press briefing in Jakarta on Tuesday.
The government had used a crude oil price of $49 per barrel for the state budget, but the price reached about $60 per barrel in the final months of 2017.
However, she added that the increase had a positive effect on the state budget because the resulting additional revenue was higher than the energy subsidy spent by the government.
The government collected Rp 1.34 quadrillion in tax revenue last year, or 91 percent of its target. (fny/bbn)
