Indonesian president-elect Joko Widodo's drive to fast-track an increase in fuel prices, one of his key election pledges, have stumbled after incumbent Susilo Bambang Yudhoyono said the conditions were not right at the moment to cut subsidies. Widodo and Yudhoyono held a two-hour, closed door meeting on the resort island of Bali on Wednesday. Atop Widodo's agenda when he assumes the presidency on Oct. 20 is to address a ballooning fuel subsidy bill that is eating up an already tight budget and threatening investor confidence by widening the current account deficit. Widodo and Yudhoyono had discussed the possibility of introducing a fuel hike as early as September, two sources close to the matter told Reuters last month.
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