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First economic package will not stop layoffs
Coordinating Economic Minister Darmin Nasution has said that the first economic policy package announced by the government on Sept
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oordinating Economic Minister Darmin Nasution has said thatthe first economic policy package announced by the government on Sept. 9 will not stoplayoffs because it focused on investment and property, which will not produce short-term results.
'It doesn't mean that after the policy is launched the layoffs would stop. The layoffs are happening because of the economic slowdown,' Darmin Said at the State Palace on Tuesday.
According to Darmin, in the first economic policy package, a number of new regulations were introduced to replace the old ones that were thought to be obstructing business and investment. With the introduction of the new regulation, the purchasing power of low-income people is expected to increase as the prices of key commodities will be controlled.
He said that certain industries like garments and others that used imported raw materials had laid off their employees because they could not afford the operational costs.
On Tuesday, the government launched the second economic policy package. (edn/bbn)
