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Jakarta Post
The Jakarta Post
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Energy subsidy swells to Rp 97.6 trillion:  Sri Mulyani

  • News Desk
    News Desk

    The Jakarta Post

Jakarta | Wed, January 3, 2018 | 04:20 pm
Energy subsidy swells to Rp 97.6 trillion:  Sri Mulyani An online motorcycle taxi driver fills his tank at a gas station in Jakarta on Nov. 21. (Antara/Akbar Nugroho Gumay)

The 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)

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