JAKARTA - Indonesia will raise excise tax rates for tobacco products by an average of 10% next year, in an effort to control cigarette consumption, Finance Minister Sri Mulyani Indrawati said in a news conference on Thursday.

The rates will be raised by 10% again in 2024, the minister said, adding that a higher increase will be applied for machine-rolled cigarettes.

Indonesia has raised excise rates on tobacco products almost every year in the past few years to try to cut smoking prevalence rate among its youth.

This year's rates are on average 12% higher than the previous year.

(Reporting by Gayatri Suroyo and Stefanno Sulaiman; Editing by Kanupriya Kapoor)