Indonesia Launches New IDR 677.2 Trillion Stimulus to Stabilize COVID-19-Battered Economy

The Government of Indonesia on the 4th of June 2020, announced a new stimulus package worth IDR 677.2 trillion (USD 47.6 billion) to stabilize the virus-battered economy, aiming at improving the healthcare system, steering more investment on social security to improve consumption, as well as offering opportunities to save Indonesian firms from bankruptcy and related redundancies.

According to local media reports, the Government will provide IDR 87.55 trillion for the healthcare sector, IDR 203.9 trillion to focus on strengthening social safety net programs, IDR 123.46 trillion in incentives for micro, small and medium businesses, IDR 120.6 in tax incentives, IDR 97.11 for Ministries and Regional Governments, while the re...