Indonesia’s government submitted proposed revisions to the 2012 budget to parliament. The revisions will be discussed starting today, and a final agreement may be reached this month.
The following table lists some of the proposed revisions.
================================================================ Item Current Budget Assumption Proposed Revision ================================================================ Deficit 1.5% of GDP 2.2% of GDP Inflation 5.3% 7.0% GDP 6.7% 6.5% Rupiah Average Level 8,800/Dollar 9,000/Dollar Oil Price $90/BBL $105/BBL Oil Sales 950,000 BBL/Day $930,000 BBL/Day Energy Subsidies 168.55T Rupiah $230.43T Rupiah Government proposes a temporary cash transfer to 18.5 million poor household for nine months of 150,000 rupiah per month. ================================================================
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