Indonesia Allocates IDR 641 Trillion to Fund the Economic Recovery Program

Indonesia’s Minister of Finance, Sri Mulyani Indrawati, stated on the 18th of May 2020 that the Government of Indonesia has prepared an amount totalling to IDR 641.12 trillion as funding for the Economic Recovery Program (ERP).

According to Sri Mulyani Indrawati, the Government will allocate an amount of IDR 172.1 trillion from this fund to support the consumption budget and IDR 34.15 trillion as an interest subsidy. The Government will also provide tax incentives worth IDR 123.01 trillion, allocate IDR 26 trillion into the stimulus reserves, include IDR 25.27 trillion as capital injections to state owned entities and allocate another IDR 2.78 trillion in fuel subsidies. Further to the above, an amount of IDR 3.8 t...