On Nov 18, less than a month after starting his term as President of Indonesia, Joko “Jokowi” Widodo (pic) reduced the fuel subsidy by almost one-third, stating that more money has to be ploughed into infrastructure spending to jumpstart the nation’s economy.
The fuel subsidy cut earned Jokowi praises from the international investment community. This is evident from the gradual rise of the stock exchange that is up by about 20% year to date.
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