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View all search resultsStimulus ‘not enough’ to jumpstart economy
The government's latest stimulus package must be managed efficiently and be supported with other policy measures that address deeper problems for long-term benefits, experts say.
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Office workers and other pedestrians walk along a concourse near the Dukuh Atas BNI MRT Station in Central Jakarta on May 12, 2020. (JP/Seto Wardhana)
T
he government’s latest economic stimulus package of around Rp 16.2 trillion (US$986.7 million) aims to create jobs and sustain household spending, but businesses and experts warn it might only provide a short-term boost unless deeper problems are addressed.
The package, which includes 17 programs, was unveiled on Monday by Coordinating Economy Minister Airlangga Hartarto following a meeting with President Prabowo Subianto.
“The meeting with Pak [Mr.] President discussed the policies to be implemented, which are referred to as the 2025 economic package, including eight acceleration programs, four extended programs through 2026 and five programs related to job creation,” Airlangga said.
The government also introduced new initiatives, such as an internship program for fresh graduates and extended income tax relief for employees in the tourism sector.
The internship program aims to “link and match” new graduates with industries, according to Airlangga, with the program’s first stage to target 20,000 beneficiaries over a six-month period on a total budget of Rp 198 billion.
“The income tax [waiver], which was previously implemented for labor-intensive industries, will be extended to the tourism sector, [including] hotels, restaurants and cafes,” the senior minister said.
The government has earmarked Rp 120 billion to provide full tax relief for 552,000 tourism workers for the final quarter of 2025.
