Revised budget sees deficit at 4.5 of GDP
Govt assumes Indonesian average crude price at 100barrel
Total spending to reach 3,106 trln rupiah

JAKARTA, May 19 Reuters Indonesia39;s parliament on Thursday approved a government request to boost energy subsidies by about 23.8 billion to be able to keep some energy prices unchanged amid a global surge in inflation.

Additional energy subsidies worth 74.9 trillion rupiah 5.09 billion were approved, as was additional compensation of 275 trillion rupiah for state energy firm Pertamina and utility PLN.

Despite the topup, Finance Minister Sri Mulyani Indrawati said the government is considering raising electricity tariffs for some household consumers with larger power capacity.

The changes assumed Indonesian crude oil price at an average 100 a barrel this year, compared with the original assumption of 63 a barrel.

There is a potential … that global growth will not be as strong as now. If global growth weakens with China in lockdown and the U.S. hit by quite high interest rates, demand for commodities will decline and pressure on prices won39;t be as high, Sri Mulyani said.

The government has seen a windfall in revenue thanks to high commodity prices and the budget revisions will bring the fiscal deficit forecast to 4.5 of GDP, she said, having previously estimated 4.

Myrdal Gunarto, Maybank Indonesia economist, called the budget changes very good news to support purchasing power. He predicted 2022 inflation will reach…