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 17:19 2018 Thursday ,11 January
China factory gate inflation slows to 13-month lowGMT 17:50 2018 Wednesday ,10 January
German industrial output rebounds in NovemberGMT 17:39 2018 Wednesday ,10 January
Samsung tips record Q4 operating profit of more than $14 bnGMT 17:29 2018 Tuesday ,09 January
German industrial orders dip in NovemberGMT 15:36 2018 Thursday ,04 January
China factory activity accelerated in December: CaixinGMT 13:33 2018 Wednesday ,03 January
Turkey inflation rate eases but still stubbornly high in DecemberGMT 16:27 2018 Monday ,01 January
China manufacturing activity slows in DecemberGMT 17:36 2017 Sunday ,31 December
Spain to leave EU's deficit 'sin bin' next year: Rajoy
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor