JAKARTA
The new government will be taking a highly unpopular step, but some worries for the minority coalition's future were eased by opposition leader Prabowo Subianto offering qualified support for Widodo's administration at a joint news conference following the rivals' first meeting since a disputed election in July.
Due to be sworn in on Monday, Widodo has to urgently address Indonesia's biggest fiscal problem - a $23 billion fuel subsidy bill that is the main driver behind the country's twin budget and current account deficits.
The adviser said the incoming president plans to raise the price of gasoline by 46 percent, and diesel by 55 percent, possibly as early as Nov. 1, in a move that will save the government nearly $13 billion next year.
"It's safe to say they are likely to do it within the first two weeks of taking office," said the adviser, who requested anonymity because he was not authorized to speak to the media.
Raising fuel prices is a sensitive issue that typically sparks protests and contributed to the downfall of long-serving autocrat and then president Suharto in 1998.
Widodo could still amend his plan, the aide said, but whereas the size of the increases will be criticised by opposition parties, the government does not need parliamentary approval to raise fuel prices.
The former Jakarta governor will need support for future tricky decisions, however, and he has sought to mend ties Prabowo after a disputed election that was the closest in Indonesia's history.
Their meeting on Friday appeared to ease tensions, though it was unclear whether they discussed a hike in fuel prices.
"Our objectives are the same ... everything will be done for the good of the nation," Widodo said.
Prabowo, a former general, congratulated Widodo and saluted him once the press conference was over.
"I conveyed that the party I lead, my supporters, I will ask them to support Joko Widodo and the government he will lead," Prabowo said. "When there are things that we judge to not be for the benefit of the people... we will not hesitate to criticise."
The prospect of a fuel price hike to bring down a worrying fiscal deficit, and Prabowo's soothing words gave heart to investors in Indonesian assets.
The stock market rose around 1 percent, as did the rupiah currency, while 10-year government bond yields eased.
PROTECTING THE POOR
Widodo currently plans to raise the price of both gasoline and diesel by 3,000 rupiah ($0.25) per litre by November, the advisor said. Indonesian fuel prices are now among the cheapest in the region, with gasoline costing 6,500 rupiah a litre, and diesel costing 5,500 rupiah.
"We would probably oppose it on the grounds it would be too much of a shock to the system," Hashim Djojohadikusumo, a top aide and brother of Prabowo told Reuters last week.
He said opposition lawmakers would likely favour a smaller increase in pump prices, of around 1,000-1,500 rupiah.
The government is expected to save 156 trillion rupiah ($12.76 billion) next year in fuel subsidy costs, the adviser said. In the 2015 budget, fuel and gas subsidies make up 13.5 percent of government spending.
Widodo's advisers say the money saved would be diverted to spending on infrastructure, agriculture, education, and health projects.
To offset the higher fuel prices, Widodo plans to provide the poorest families with 300,000 rupiah per quarter until the first quarter of 2016, the adviser said.
A further fuel price will be considered in the fourth quarter of 2015, the adviser added.
The 2014 budget deficit had been targeted at 2.4 percent of gross domestic product, but it is in danger of busting a budget law setting the limit at 3 percent because of a shortfall in tax revenues and the slowest economic growth in five years.
A fuel price hike of 3,000 rupiah in November would save the government 21 trillion rupiah in the last two months of this year, the current Finance Minister, Chatib Basri, said.
The planned fuel price hike would add an additional 3-3.5 percentage points to inflation this year, and the inflationary pressures would last around three months, said the deputy central bank governor Perry Warjiyo.
The current estimate for 2014 inflation is 5.3 percent.
The fuel price hike will help ease the current account deficit to below 2.9 percent of gross domestic product in 2015 from a projected 3.2 percent this year.
Reporting by Michael Taylor, Fransiska Nangoy and Gayatri Suroyo in Jakarta
___________________________________________________________________________________
29/05/2008
INDONESIA
Cala la produzione di petrolio, Jakarta esce dall’Opec
L’attuale produzione di 860mila barili al giorno nemmeno copre il fabbisogno interno. Proteste nel Paese per l’aumento del petrolio. Ha grandi giacimenti di gas naturale, ma mancano i fondi per sfruttarli e le ditte estere sono restie a investire. Ora punta sul metano.
Jakarta (AsiaNews/Agenzie) – Il ministro indonesiano dell’Energia Purnomo Yusgiantoro ha confermato ieri che il suo Paese lascia l’Organizzazione dei Paesi esportatori di petrolio (Opec), di cui era membro dal 1962. L'Indonesia, solo membro Opec dell’Asia del sudest, di recente è diventato un importatore di petrolio, specie da Iran, Arabia Saudita e Kuwait, dopo che la produzione è calata e non sono stati trovati nuovi giacimenti.
Jakarta ha scarsi fondi per le ricerche e le ditte straniere sono restie a investire in ricerca ed estrazione di petrolio, per la diffusa corruzione e la scarsa tutela legale. L’attuale produzione di 860mila barili al giorno non copre il fabbisogno interno, che si prevede crescerà velocemente. Esperti ritengono che la decisione sia anche una protesta per l’insistito rifiuto dell’Opec ad aumentare la produzione nonostante la rapida crescita del prezzo del petrolio, giunto a circa 135 dollari al barile.
Comunque gli analisti ritengono che l’uscita dell’Indonesia non avrà conseguenze sul prezzo del petrolio o la politica Opec, dato che aveva scarso peso nel gruppo. Ma dicono che è un forte segnale del drammatico impatto sociale ed economico sulle economie dell’Asia per l’aumento dei prezzi del greggio.
L’aumento ha spinto l’inflazione in Indonesia e i recenti “tagli” dei sussidi pubblici per il carburante hanno causato un aumento di circa il 30% e diffuse proteste.
Il Paese ha anche grandi giacimenti di gas naturale, ma di recente non ha rinnovato i contratti di fornitura e consumatori come il Giappone hanno preferito abbandonarlo per l’Australia e altri produttori.
Inoltre si stima abbia riserve di metano, presso i giacimenti di carbone, pari a 138 trilioni di metri cubi e il 27 maggio ha firmato il primo contratto per estrarre questo metano, con le compagnie locali Medco Energi e Energi Pasir Hitam. Il settore interessa molto le principali multinazionali di energia e, per incoraggiare gli elevati investimenti necessari,
Jakarta offre alle ditte il 45% della produzione (è “solo” il 15% per il petrolio). Tuttavia esperti stimano che per sviluppare in modo adeguato la produzione occorreranno ancora tra 20 e 30 anni. (PB)
MA IN CAMPAGNA ELETTORALE COSA SI ERA DETTO??
E COME E' IN REALTA' IL PAESE OGGI ???
(Prossimamente dei post,che riguardano quanto sopra)
The new government will be taking a highly unpopular step, but some worries for the minority coalition's future were eased by opposition leader Prabowo Subianto offering qualified support for Widodo's administration at a joint news conference following the rivals' first meeting since a disputed election in July.
Due to be sworn in on Monday, Widodo has to urgently address Indonesia's biggest fiscal problem - a $23 billion fuel subsidy bill that is the main driver behind the country's twin budget and current account deficits.
The adviser said the incoming president plans to raise the price of gasoline by 46 percent, and diesel by 55 percent, possibly as early as Nov. 1, in a move that will save the government nearly $13 billion next year.
"It's safe to say they are likely to do it within the first two weeks of taking office," said the adviser, who requested anonymity because he was not authorized to speak to the media.
Raising fuel prices is a sensitive issue that typically sparks protests and contributed to the downfall of long-serving autocrat and then president Suharto in 1998.
Widodo could still amend his plan, the aide said, but whereas the size of the increases will be criticised by opposition parties, the government does not need parliamentary approval to raise fuel prices.
The former Jakarta governor will need support for future tricky decisions, however, and he has sought to mend ties Prabowo after a disputed election that was the closest in Indonesia's history.
Their meeting on Friday appeared to ease tensions, though it was unclear whether they discussed a hike in fuel prices.
"Our objectives are the same ... everything will be done for the good of the nation," Widodo said.
Prabowo, a former general, congratulated Widodo and saluted him once the press conference was over.
"I conveyed that the party I lead, my supporters, I will ask them to support Joko Widodo and the government he will lead," Prabowo said. "When there are things that we judge to not be for the benefit of the people... we will not hesitate to criticise."
The prospect of a fuel price hike to bring down a worrying fiscal deficit, and Prabowo's soothing words gave heart to investors in Indonesian assets.
The stock market rose around 1 percent, as did the rupiah currency, while 10-year government bond yields eased.
PROTECTING THE POOR
Widodo currently plans to raise the price of both gasoline and diesel by 3,000 rupiah ($0.25) per litre by November, the advisor said. Indonesian fuel prices are now among the cheapest in the region, with gasoline costing 6,500 rupiah a litre, and diesel costing 5,500 rupiah.
"We would probably oppose it on the grounds it would be too much of a shock to the system," Hashim Djojohadikusumo, a top aide and brother of Prabowo told Reuters last week.
He said opposition lawmakers would likely favour a smaller increase in pump prices, of around 1,000-1,500 rupiah.
The government is expected to save 156 trillion rupiah ($12.76 billion) next year in fuel subsidy costs, the adviser said. In the 2015 budget, fuel and gas subsidies make up 13.5 percent of government spending.
Widodo's advisers say the money saved would be diverted to spending on infrastructure, agriculture, education, and health projects.
To offset the higher fuel prices, Widodo plans to provide the poorest families with 300,000 rupiah per quarter until the first quarter of 2016, the adviser said.
A further fuel price will be considered in the fourth quarter of 2015, the adviser added.
The 2014 budget deficit had been targeted at 2.4 percent of gross domestic product, but it is in danger of busting a budget law setting the limit at 3 percent because of a shortfall in tax revenues and the slowest economic growth in five years.
A fuel price hike of 3,000 rupiah in November would save the government 21 trillion rupiah in the last two months of this year, the current Finance Minister, Chatib Basri, said.
The planned fuel price hike would add an additional 3-3.5 percentage points to inflation this year, and the inflationary pressures would last around three months, said the deputy central bank governor Perry Warjiyo.
The current estimate for 2014 inflation is 5.3 percent.
The fuel price hike will help ease the current account deficit to below 2.9 percent of gross domestic product in 2015 from a projected 3.2 percent this year.
Reporting by Michael Taylor, Fransiska Nangoy and Gayatri Suroyo in Jakarta
___________________________________________________________________________________
29/05/2008
INDONESIA
Cala la produzione di petrolio, Jakarta esce dall’Opec
L’attuale produzione di 860mila barili al giorno nemmeno copre il fabbisogno interno. Proteste nel Paese per l’aumento del petrolio. Ha grandi giacimenti di gas naturale, ma mancano i fondi per sfruttarli e le ditte estere sono restie a investire. Ora punta sul metano.
Jakarta (AsiaNews/Agenzie) – Il ministro indonesiano dell’Energia Purnomo Yusgiantoro ha confermato ieri che il suo Paese lascia l’Organizzazione dei Paesi esportatori di petrolio (Opec), di cui era membro dal 1962. L'Indonesia, solo membro Opec dell’Asia del sudest, di recente è diventato un importatore di petrolio, specie da Iran, Arabia Saudita e Kuwait, dopo che la produzione è calata e non sono stati trovati nuovi giacimenti.
Jakarta ha scarsi fondi per le ricerche e le ditte straniere sono restie a investire in ricerca ed estrazione di petrolio, per la diffusa corruzione e la scarsa tutela legale. L’attuale produzione di 860mila barili al giorno non copre il fabbisogno interno, che si prevede crescerà velocemente. Esperti ritengono che la decisione sia anche una protesta per l’insistito rifiuto dell’Opec ad aumentare la produzione nonostante la rapida crescita del prezzo del petrolio, giunto a circa 135 dollari al barile.
Comunque gli analisti ritengono che l’uscita dell’Indonesia non avrà conseguenze sul prezzo del petrolio o la politica Opec, dato che aveva scarso peso nel gruppo. Ma dicono che è un forte segnale del drammatico impatto sociale ed economico sulle economie dell’Asia per l’aumento dei prezzi del greggio.
L’aumento ha spinto l’inflazione in Indonesia e i recenti “tagli” dei sussidi pubblici per il carburante hanno causato un aumento di circa il 30% e diffuse proteste.
Il Paese ha anche grandi giacimenti di gas naturale, ma di recente non ha rinnovato i contratti di fornitura e consumatori come il Giappone hanno preferito abbandonarlo per l’Australia e altri produttori.
Inoltre si stima abbia riserve di metano, presso i giacimenti di carbone, pari a 138 trilioni di metri cubi e il 27 maggio ha firmato il primo contratto per estrarre questo metano, con le compagnie locali Medco Energi e Energi Pasir Hitam. Il settore interessa molto le principali multinazionali di energia e, per incoraggiare gli elevati investimenti necessari,
Jakarta offre alle ditte il 45% della produzione (è “solo” il 15% per il petrolio). Tuttavia esperti stimano che per sviluppare in modo adeguato la produzione occorreranno ancora tra 20 e 30 anni. (PB)
MA IN CAMPAGNA ELETTORALE COSA SI ERA DETTO??
E COME E' IN REALTA' IL PAESE OGGI ???
(Prossimamente dei post,che riguardano quanto sopra)
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