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Indonesia: ‘We’re considering all options’: Government mulls income tax relaxation to counter virus impacts

The 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 […]

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Thailand: Poverty on the rise again as economy slows

The percentage of Thais living in poverty has fallen dramatically over the past three decades, from over 65% in 1988 to under 10% in 2018. However, that trend has reversed in recent years with stalled household incomes and consumption bringing a rise in poverty, according to a new World Bank report. Between 2015 and 2018, the […]

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Fiscal stimulus package expected to widen Vietnam’s 2020 deficit

The Hanoitimes – Fitch Solutions has revised its forecast for Vietnam to record a fiscal deficit of 3.8% of GDP (excluding debt principal repayments) in 2020, versus 3.4% previously. Vietnamese government’s announced stimulus package to help businesses cope with the Covid-19 epidemic and support growth, will see 2020 record a larger deficit versus the government’s prior […]

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Indonesia: Government in talks to create supporting regulations for omnibus jobs bill

The 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 […]

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