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Jakarta Post

Govt to spend $37b stimulus by year end through new programs, simpler bureaucracy

  • Adrian Wail Akhlas

    The Jakarta Post

PREMIUM
Jakarta   /   Tue, August 11, 2020   /  09:04 am
The Jakarta Post Image
Rupiah banknotes(Shutterstock.com/Maciej Matlak)

The government is looking to disburse Rp 534.98 trillion (US$37.04 billion) in COVID-19 stimulus funding in the remaining months of the year, through proposed new programs and streamlined bureaucracy in an attempt to rescue the pandemic-hit economy. The new stimulus programs range from a continuation of existing programs such as fund placement in banks, electricity discounts and the Family Hope program, as well as new programs intended to spur economic growth and boost people’s purchasing power, according to Finance Minister Sri Mulyani Indrawati on Monday. The new proposed stimulus programs, totaling Rp 126.2 trillion, will be financed from reserves and budget reallocations from the government’s COVID-19 stimulus package of Rp 695.2 trillion. “We will redesign the stimulus to maximize its impact and to allow the economy to recover faster, while also simplifyin...