31.
07.18
16:17

Indonesia wants to clean trade balance deficit with biodiesel

Indonesia's President Joko Widodo today pushed ahead with plans to increase the use of biodiesel to save on high-cost imported crude oil.
Indonesia is the largest economy in Southeast Asia and has hardly any dollar reserves left. The rupee exchange rate has already fallen 6% this year.
Rapidly increasing goods exports is almost impossible, especially as palm oil exports have been weakening for months. To prevent even larger trade deficits, the government in Jakarta now wants to use a gasoline (B20) to increase the use of biodiesel, which is made from palm oil. The Finance Minister hopes to save $ 5 billion a year.
Industry representatives warn that the engines can not cope with a change and take damage. In addition, economic experts predict that fuel consumption will increase by 2%, and thus the country's inflation rate.
While a higher use of biofuels could reduce CO2 emissions, Indonesia is being condemned by the entire western world for turning primary forests into arable land with slash and burn, blamed for rapid climate change.

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