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Jakarta Post

Govt cashing in hefty gains from oil, gas, mining, but wary about next year

  • Alfian,

    The Jakarta Post,

Jakarta   /   Wed, December 31 2008   /  10:51 am

While booking an unprecedented 53.79 percent jump in revenue this year in direct earnings from the energy and mining sectors, the government will prepare for possible economic turbulence next year by lowering revenue expectations for the state coffers. A continuing slump in the global prices of oil, gas and mining commodities are the main worrying factors leading government not to expect too much next year. Energy and Mineral Resources Ministry, Purnomo Yusgiantoro, said Tuesday the energy and mining sector was forecast to book Rp 346.35 trillion (US$31.20 billion) in revenue for the state by the end of this year, up from Rp 225.21 trillion in 2007. Revenue forecasts were calculated based on January to November actual performance while estimating results for December. According to Purnomo, the sector had remained the primary contributor to state coffe...