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JAKARTA - The Indonesian government can not rule out any new fuel price hikes before the presidential elections in 2009. This was said by Purnomo Yusgiantoro, Minister of Energy and Natural Resources. The current fuel subsidies have a big impact on the state budget, which should be reduced. The government raised fuel prices of subsidized fuels with almost 30 percent last month, which sparked protests throughout the country.
Currently Indonesia still has some of the cheapest fuel in Asia, but the issue of the ever growing subsidies on fuel is a politically sensitive one, because of the upcoming elections next year. Late last month President Susilo Bambang Yudhoyono already said that hiking prices was not about popularity, but about saving the Indonesian economy. "The increase is about fairness. Subsidized fuels have been enjoyed by the haves, rather than the have-nots," Yusgiantoro said on the sidelines of the Coaltrans Asia Conference, held on the resort island of Bali.
When asked whether the government could guarantee that there would be no other increase of fuel prices before the upcoming elections, to be held in the first half of 2009, Yusgiantoro said that this was not possible. "We cannot guarantee, we never know what happens in the future," he said. When the government more than doubled fuel prices in October 2005, consumption fell significantly, but soon came back to levels from before the price hikes.
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