Oil When Susilo Bambang Yudhoyono, the Indonesian president, opens a Group of 20 summit discussion on how to reduce fuel subsidies while protecting the poor, he will have first-hand experience to draw on.
In October 2005 and May 2008, he increased subsidised fuel prices by 126 per cent and 29 per cent respectively as fuel and electricity subsidies ballooned out of control in the wake of soaring oil costs, and simultaneously introduced cash transfers to the nation’s poor.
