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Jakarta Post

Better coordination, speed needed for stimulus

  • Yunindita Prasidya


Jakarta   /   Fri, August 14 2020   /  01:00 am
Apindo chairman Hariyadi B. Sukamdani talks to the press at the Apindo headquarter in Jakarta on Tuesday, Dec. 11, 2019. The association estimates Indonesia’s GDP at between 4.85 to 5.1 percent in 2020.(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, ...