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View all search resultsSeptember's liquidity injection led to state-owned banks cutting their deposit rates by around 50 basis points (bps) and lending rates by around 11 bps, according to the Finance Ministry, which expects this to translate into stronger growth this quarter.
The scheme will offer interest rates as low as 0.5 percent to regional administrations with eligible projects and will be channeled through state-owned infrastructure financing firm PT Sarana Multi Infrastruktur (SMI).
The new finance minister has become an inadvertent disrupter of a decade-long loyalty entrenched in the bureaucracy through his policies, grounded in economic rational, creating both hope among the public and a test for the President.
The Finance Ministry seeks to fix software bugs and faulty infrastructure in its new online tax system in time for next year’s filing season to prevent a repeat of complaints and delays experienced earlier this year.
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