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Jakarta Post

Govt unveils final stimulus plan to boost economy

  • Aditya Suharmoko,

    THE JAKARTA POST

JAKARTA   /   Wed, January 28 2009   /  08:51 am

After giving conflicting figures, the government has finally set the stimulus at Rp 71.3 trillion (US$6.31 billion) to boost the economy amid the threat of crisis.

The package will include the Rp 27.5 trillion stimulus previously announced, and is higher than
the figure of Rp 50 trillion touted by President Susilo Bambang Yudhoyono. The new stimulus revolves around tax savings worth Rp 43 trillion, waived taxes and import
duties for businesses and certain households, worth Rp 13.3 trillion, as well as subsidies and govern-ment spending of Rp 15 trillion for businesses. Speaking before the House of Representatives' Commission XI, which oversees financial affairs, Finance Minister Sri Mulyani Indrawati said the stimulus was aimed at increasing people's purchasing power, the competitiveness and sturdiness of businesses facing the economic downturn,...