Indonesia is third in the world after China and India in economic stability and growth."Jakarta (ANTARA News) - Indonesias policy abolishing oil fuel subsidy has prompted similar steps in a number of other countries, an official said.
"A number of other countries such as Iran and Saudi Arabia have followed the Indonesian lead in stopping subsidy on oil fuels," Oil and Gas Director General I Gusti Nyoman Wiratmaja Puja said.
The two giants in oil production and exports also copy Indonesia in evaluating and setting prices of fuels every three months, Wiratmaja said.
The evaluation of the prices every three months could create price stability, and would contribute to the economic development, he added.
"Indonesia is third in the world after China and India in economic stability and growth," he said.
The new government of President Joko Widodo (Jokowi) was widely criticized when it abolished BBM subsidy late 2014.
The abolition of the subsidy reduced the pressure on the state budget and gave greater fiscal room for the government.
(Uu.H-ASG/O001)
Editor: Priyambodo RH
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