Indonesian students protest state spending plans and fuel price hike
Student federations in Indonesia's main cities held demonstrations against the government's new spending package and a planned fuel price increase. BBC Asia reported that thousands gathered in front of parliament in Jakarta and police used tear gas. Trade unions also raised the prospect of a nationwide walkout.
BBC Asia said roughly 12,000 people gathered with "Indonesia Bankrupt" placards in front of the parliament building in Jakarta, and police used tear gas after a dispersal order. Student federation spokesperson Putri Maharani said "the president's flagship programmes cannot be protected while the education and social aid budgets are being cut".
Government spokesperson Hasan Nasbi said in a briefing that "fuel pricing will be adjusted in steps". The Sustainable Development Ministry's proposed 50 trillion rupiah programme was put before the budget committee. Trade union confederation KSPI chairman Said Iqbal said "a nationwide walkout call could come in mid-September".
Goldman Sachs Indonesia economist Wajaya wrote that "the government's fiscal path through gradual adjustment is reasonable, but if protest pressure is heavy, the risk premium can rise". The IDR/USD held at 16,140; the Jakarta Composite Index opened down 0.7%. This is not investment advice.
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