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Jakarta Post

Indonesia launches 16th economic package

  • Rachmadea Aisyah

    The Jakarta Post

Jakarta   /   Fri, November 16, 2018   /   02:23 pm
Indonesia launches 16th economic package Coordinating Economic Minister Darmin Nasution (JP/Wienda Parwitasari)

The government launched on Friday its 16th economic policy package to ensure the nation’s economic resilience through policy relaxations.

The package comprises three main points: an expansion of the tax holiday program, adjustment of the negative investment list (DNI) and the provision of tax incentives for the newly mandated conversion of export earnings to rupiah.

“We would like to maintain and keep encouraging investors to trust the Indonesian economy [through these relaxations],” Coordinating Economic Minister Darmin Nasution said during the launch at the Presidential Office as quoted in a press statement.

The government recorded Rp 14.4 trillion (US$986 million) in foreign capital entering Indonesia through government debt papers between January and November.

This has been taken as a sign of foreign investors’ confidence in Indonesia despite external pressures sparked by the United States’ monetary tightening, which had prompted investors to move their money to the country and pull their capital out of developing markets, the statement says. (bbn)

Editor's note: We have corrected this article.