Indonesia prepares 1.68 billion USD tourism stimulus package for Q3
The Indonesia government will issue a stimulus package worth 25 trillion Rp (1.68 billion USD) to recover the local tourism industry after the COVID-19 pandemic.
Bajra Sandi temple in Bali, Indonesia (Photo: ANN)
Jakarta (VNA) - The Indonesia governmentwill issue a stimulus package worth 25 trillion Rp (1.68 billion USD) to recover the local tourism industry after theCOVID-19 pandemic.
Head of the ministry's Fiscal Policy Department (BKF) Febrio Nathan Kacaribusaid at an online press briefing on May 13 that tourism was one of the sectorshardest hit by the medical crisis, with no less than 1.4 million workers forcedto take leave or sacked.
The stimulus will be disbursed onceIndonesia resumes its economic movements, he said.
"By quarter three, people willanticipate traveling, as they have been quite bored at home. That's why, wewill prepare a stimulus for tourism,restaurants, transportation. Hopefully, there would be more in the fourthquarter," he said.
Among the stimuli are discounted airline tickets to certain traveldestinations, as well as tax incentives for hotels and restaurants.
Febrio said the package is an attempt by the government to increase theconsumption rate of the middle class.
Febrio said that the COVID-19 pandemic hassuspended the life of the tourism sector, causing consumption growth in thefirst quarter to decelerate to just 2.8 percent. It is expected thatconsumption will decline further in the second quarter as the governmentimplements large-scale social restrictions in a number of major cities.
The number of internationaltourist arrivals to Indonesia in March plunged by 64.1 percent compared to thesame period last year, to 470,898, the lowest level in a decade./.
Indonesian President Joko Widodo assessed the implementation of the large-scale social restrictions (PSBB) policy to curb the spread of the COVID-19 during a meeting held via teleconference on May 12.
The Indonesian Government on May 11 released a regulation on an economic recovery programme worth 318 trillion Rp (21.28 billion USD) which focuses on capital injections for State-owned enterprises and loan subsidies for small businesses, among others.
Since the start of the COVID-19 crisis, Bank Indonesia (BI) has been strengthening its policy mix to stabilise the rupiah, control inflation, support financial system stability and prevent a further decline in economic activities.
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Bajra Sandi temple in Bali, Indonesia (Photo: ANN) 
