“This is a very dire condition, if I may say so, the global economy is now in a bad shape,” Jokowi added.
As for Indonesia, Jokowi said the government will continue to rein in rising prices, especially for fuel, amid looming global recession. As a result, government subsidies in the national budget have swelled.
Read: Jokowi meets IMF delegation to discuss Indonesia’s economy
“The government is trying to bring price hike under control. With what? With subsidies, because as soon as the price of fuel rises, the price of goods will automatically jump accordingly. Thus, the government has shelled out Rp502 trillion in subsidy. No other country dares to provide subsidies as huge as Indonesia,” he stressed. (rr)