VOL. XLI
No. 15
13-April-1998
OPEC
Declining Oil Prices And Budget Revenues
In Indonesia, the government has revised downwards the oil price assumption inthe 1998-99 budget to $14.50/B from the previous $17.00/B. This compares with $16.50/B inthe 1997-98 budget. Some analysts maintain that the lower price may still not beattainable in the current fiscal year. The Indonesian economy this year is expected tocontract by 4-5% with inflation running at 17%, according to recent official estimates.
In ...
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