The government’s big-check fiscal stimulus to bolster purchasing power and tourism- and trade-related industries amid the coronavirus (COVID-19) outbreak will reduce state revenue and raise debt levels, economists say. They have called for productive spending to support the economy. Center of Reform on Economics (CORE) Indonesia research director Piter Abdullah said the planned stimulus packages would “no […]
Read MoreAs the government prepares a second fiscal stimulus package to support the economy, Finance Minister Sri Mulyani Indrawati warns that the economic impacts of the COVID-19 coronavirus outbreak will be far more complicated than that of the 2008 financial crisis. Driven by the United States subprime mortgage debacle, the 2008 financial crisis mostly affected financial institutions, banks […]
Read MoreThe government is putting together a second stimulus package to counter the negative impacts of the COVID-19 outbreak. “We are considering all options,” said Finance Minister Sri Mulyani Indrawati in Jakarta on Thursday, adding that her side was also mulling the acceleration of tax return payments. The government previously announced a stimulus package worth Rp 10.3 trillion (US$725 […]
Read MoreThe government is preparing derivative regulations that will support the implementation of the omnibus bill on job creation once the bill is passed into law, a senior minister has said. Coordinating Economic Affairs Minister Airlangga Hartarto said on Thursday that the regulations would consist of 36 government regulations and seven presidential decrees. He said discussions on the […]
Read MoreThe government is working to finalize eight measures that will be incorporated in a second stimulus package aimed at easing rules for exports and imports as supply chains continue to be disrupted by the spread of COVID-19, Coordinating Economic Minister Airlangga Hartarto said on Wednesday. The stimulus, he said, would be bigger than the first one. “Trade […]
Read MoreIndonesia’s central bank sees “ample” room for both monetary and macroprudential policy easing as the coronavirus is seen dragging down Indonesia’s economic growth in the first quarter. Bank Indonesia (BI) Governor Perry Warjiyo said Wednesday that unlike developed countries, Indonesia had the luxury of various fiscal and monetary measures to stimulate the economy. The statement follows […]
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