Indonesia Unveils Additional IDR 405 Trillion Stimulus in Response to COVID-19

Following an IDR 10.3 trillion stimulus package launched in February 2020, Indonesia has unveiled an additional fund worth IDR 405.1 trillion (USD 24.2 billion) on the 31st of March 2020, local media reports stated.

Indonesian President, Joko Widodo, stated that of the total sum, IDR 150 trillion will be allocated for economic recovery programmes comprising credit restructuring and financing for small and medium businesses. 

An amount of IDR 75 trillion is expected to be allocated towards the development of the healthcare sector in Indonesia, while IDR 110 trillion has been allocated for social protection. In addition, IDR 70.1 trillion has been dedicated as tax incentives and credit...