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Jakarta Post

RI unveils bigger stimulus worth $47.6b to fight coronavirus impacts

  • The Jakarta Post

Jakarta   /   Thu, June 4 2020   /  01:47 am
Minister of Finance Sri Mulyani conveyed the realization of the State Budget (APBN) 2020 in Jakarta, Wednesday (02/19/2020). Minister of Finance said that the government will be aware of the threat of economic slowdown due to the corona outbreak in China in pursuit of the target of basic macroeconomic assumptions in the 2020 state budget. (Antara/Puspa Perwitasari)

Adrian Wail Akhlas The Jakarta Post/Jakarta The government unveiled on Wednesday a bigger stimulus package worth Rp 677.2 trillion (US$47.6 billion) to anchor the virus-battered economy, the growth of which is expected to fall to a level similar to that of the 1998 Asian financial crisis. The latest budget, which is higher than the Rp 641.17 trillion initially allocated, aims to strengthen the healthcare system, direct more spending toward social protection to boost consumption and provide incentives to rescue Indonesian businesses from bankruptcy and workers from layoffs. Finance Minister Sri Mulyani Indrawati said the government had put in place support measures to counter an economic fallout from the coronavirus pandemic, adding that the government would again revise the macroeconomic assumption underpinning the state budget to cover for the larger stimulus package. &ld...