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Indonesia to shift $1.6 bln fuel subsidy budget to welfare programmes

Reuters
Updated

JAKARTA, Aug 29 (Reuters) - Indonesia will reallocate 24.17 trillion rupiah ($1.62 billion) from its fuel subsidy budget to social protection, including cash handouts to 20.65 million households, finance minister Sri Mulyani Indrawati said on Monday.

The Indonesian government has been considering raising subsidised fuel prices amid rising fiscal pressure due to high global energy prices. ($1 = 14,885.0000 rupiah) (Reporting by Gayatri Suroyo, Fransiska Nangoy and Bernadette Christina)