"The economic growth in certain countries had been declining while world oil prices increasing. So we have to correspond it with the state budget," Finance Minister Agus Martowardojo said.
Jakarta (ANTARA News) - Finance Minister Agus Martowardojo said the consumption of subsidized fuel oil (BBM) in 2012 may increase its target from 40 million kiloliters to 43 million kiloliters.

"We have estimated it would reach 43 million kiloliters," he said at the House of Representatives building in Jakarta Tuesday.

In that context, he added, the government will discuss a plan to increase the volume quota with the House of Representatives (DPR) in the 2012 planned state budget.

He said the increasing world oil prices has become a government consideration, especially that the consumption of subsidized fuel oil had always exceeded the set quota.

"The economic growth in certain countries had been declining while world oil prices increasing. So we have to correspond it with the state budget," he said.

He estimated the realization of volume in 2011 from the distribution of the channeling of subsidized fuel oil to reach 41.7 million kiloliters before making an audit by the State Audit Agency (BPK).

The figure has increased from the assumption set in the 2010 state budget of 38.5 million kiloliters and the amended 2011 state budget of 40.49 million kiloliters.

The excess quota had caused the government to pay the excess in subsidized fuel oil set at Rp129.5 trillion and its budget prepared in the 2012 draft state budget.

"Payment of the subsidized fuel oil shortcoming as the result of excess in consumption volume will be audited and the shortcoming will be paid in the 2012 state budget," the finance minister said.

In the meantime he said that the realization of last year`s price of oil ICP reached 111.6 US dollars per barrel, far from the assumed average set by the government at 95 US dollars.

"The ICP realization in 2011 is the highest compared to those in the past several years," he said.

And with regard to the latest condition of subsidized fuel oil, the finance minister said the current fuel oil price is much lower than its economic price.

"The current price of premium is Rp4.500, while its economic price is Rp8,400, pertamax Rp8,700 and diesel oil Rp9,100," he said.(*)

Editor: Heru Purwanto
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