Indonesia allocates $2.7 bn for poor

March 3rd, 2012 - 12:08 am ICT by IANS  

Jakarta, March 2 (IANS) Indonesia will distribute 25 trillion rupiah (about $2.7 billion) to the poor impacted by the government’s price hike of subsidized fuel.

Economy Minister Hatta Radjasa said the fund is retrieved from budget cut initially allocated for ministries and government agencies.

The government is mulling to raise the subsidized fuel price up to 6,000 rupiah per liter from the existing 4,500 rupiah. The policy would take into effect in April.

The move would help save up to 31.5 trillion rupiah (about $3.4 billion) in the state budget, Xinhua reported Friday.

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