Indonesian Finance Minister Chatib Basri said on Friday that disparity of income between rich and poor people in the country has increased due to more rapid income growth among the riches compared with that of the poor over the last few years. The growing disparity between the poor and the rich can be seen in the gini coefficient ratio that has climbed to 0.41 from 0.39, the minister said. The higher the ratio is (set at maximum ratio of 1), the more serious the disparity in that country will be. "Growth among poor people was recorded at minus 2 percent. Meanwhile at the same time, growth among middle class people may reach up to 7 percent. Those who run restaurants, cafes and plantations experience the fastest growth," the minister noted. The unrelenting gini coefficient ratio was part of a parameter used by the government to lift the price of subsidized fuel, scheduled in June. The minister said most of the subsidized fuel has apparently been consumed by middle class. He said that reducing fuel subsidy was part of efforts to improve the gini coefficient ratio. He added that the government has allocated compensations for poor people to cushion against possibly higher inflation from fuel price hike.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor