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Jakarta Post

Indonesia looks to spend $85b in Q4 to get economy out of recession

  • Adrian Wail Akhlas

    The Jakarta Post

PREMIUM
Jakarta   /   Fri, November 13, 2020   /  03:37 pm
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Finance Minister Sri Mulyani Indrawati is pictured during a hearing with House of Representatives Commission XI lawmakers in Jakarta on June 22, 2020. (Antara/Puspa Perwitasari)

Indonesia is looking to spend around Rp 1.2 quadrillion (US$85.21 billion) in state budget and regional administration funds to support the economic recovery in the fourth quarter this year as the coronavirus pandemic rages on. The government allocated Rp 770 trillion from the state budget and Rp 505 trillion from regional administration budgets for spending in the fourth quarter, with actual disbursement depending on how quickly ministries and regional administrations spend, Finance Minister Sri Mulyani Indrawati said on Thursday. “We are hoping that the momentum of economic recovery can be maintained in the fourth quarter with these funds,” she told the House of Representatives Commission XI on financial affairs. “As we have seen in the third quarter, government spending is crucial to revive and reverse the [direction of the] economy.” Government exp...