Indonesia may introduce a new type of fuel that can be sold at a higher price than existing subsidized products as the government seeks to reduce its energy budget without exacerbating inflation.
Indonesian lawmakers will assess today Finance Minister Agus Martowardojo’s suitability to become the next Bank Indonesia governor, testing support for the president’s bid to reshuffle his top economic team.
Indonesian President Susilo Bambang Yudhoyono nominated Finance Minister Agus Martowardojo to replace Darmin Nasution as central bank governor in a bid to reshuffle his top policy team.
Indonesia missed its 2012 budget deficit target amid lower-than-expected government spending, capping the growth of Southeast Asia’s biggest economy.
"We'll formulate a policy mix as we see that the impact of the fuel price is more than we were expecting."
- Agus Martowardojo on Jul 10, 2013