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View all search resultsGovt to provide scaled-back consumer stimulus for year-end boost
The government will no longer offer electricity subsidies or wage subsidies for low-income workers in the new subsidy package.
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Coordinating Economic Minister Airlangga Hartarto briefs reporters on the development of 2024's third quarter gross domestic product growth on Nov. 5, 2024, in his Jakarta office. (JP/Deni Ghifari)
T
he government plans to roll out another round of consumer-focused stimulus in the second half of this year and during the upcoming year-end holiday season to support economic growth. The package is expected to be announced in September, a senior minister said.
Coordinating Economic Minister Airlangga Hartarto said the subsidies would target multiple sectors, including public works and transportation.
“Labor-intensive programs in the transportation and public works sectors will be prioritized for better implementation,” he told reporters on Friday, as quoted by Bisnis.com.
As part of the upcoming measures, the government will reintroduce holiday-related discounts, such as discounted airfares, toll road tariffs and train tickets, which were implemented during the mid-year school holiday season, for the Christmas and New Year festive period.
It will also extend its 100 percent value-added tax (VAT) waiver on residential property purchases through the end of this year, up from the previous plan of a 50 percent waiver in the second semester.
However, Airlangga added that the government would no longer offer electricity subsidies or wage subsidies for low-income workers.
“[There will be] no more electricity support. The wage subsidy program has concluded. We’ll continue with train fare discounts,” Airlangga said.
