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Jakarta Post

Businesses want better coordination, swift stimulus spending to aid economy

  • Yunindita Prasidya

    The Jakarta Post

Jakarta   /   Fri, August 14, 2020   /  08:44 am
The Jakarta Post Image
Indonesian Employers Association (Apindo) chairman Hariyadi B. Sukamdani talks to the press at the association's headquarters in Jakarta on Dec. 11, 2019. (The Jakarta Post/Eisya Eloksari)

Businesspeople have called on the government and regional administrations to improve their coordination and to swiftly disburse allocated stimulus packages to kick-start the sluggish economy. “Businesses expect social aid and stimulus spending to be accelerated to improve the people’s purchasing power,” Indonesian Employers Association (Apindo) chairman Hariyadi Sukamdani said in a statement on Thursday after the association held its two-day national working and consultation meeting. The association also asked the Financial Services Authority (OJK) to extend its loan restructuring relaxation policy for the next one to two years to help companies maintain their cash flow amid the pandemic. The coronavirus outbreak has severely hit the Indonesian economy as its gross domestic product (GDP) shrank 5.32 percent annually in the second quarter, the worst since 1999, ...