Indonesia to spend over 24 bln USD on stimulus funding in 2021
The Indonesian Government has announced that it will allocate 356.5 trillion Rp (24.04 billion USD) for COVID-19-related stimulus funding next year in an effort to continue supporting the country’s economic recovery and strengthen the health care system, including the provision of a coronavirus vaccine.
Indonesian President Joko Widodo delivers his state of the nation speech to the People’s Consultative Assembly on August 14 (Source: jakartapost)
Jakarta (VNA) – The Indonesian Government has announced that it willallocate 356.5 trillion Rp (24.04 billion USD) for COVID-19-related stimulusfunding next year in an effort to continue supporting the country’s economicrecovery and strengthen the health care system, including the provision of acoronavirus vaccine.
In his state of the nation speech to thePeople’s Consultative Assembly on August 14, Indonesian President Joko Widodopledged to continue this year’s stimulus allocation until 2021, which will alsoinclude funding for social protection and micro, small and medium enterprises(MSMEs) support, while fiscal relaxation will be implemented again to supportthe government’s agenda.
The government will provide 25.4 trillion Rpnext year for health care, including the procurement of coronavirus vaccinesonce they are available and to support laboratories and health care facilities.
It will also provide 110.2 trillion Rp forsocial aid, including for the Family Hope programme, cash transfers and thepre-employment card programme, among others.
Furthermore, the government will allocate136.7 trillion Rp for ministries and regional administrations to improvetourism, food security, industrial areas, communication and technologydevelopment and provide loans for regions, among other projects.
Some 48.8 trillion Rp is being set asidefor MSMEs, 14.9 trillion Rp for state-owned enterprises and corporations andanother 20.4 trillion Rp for tax incentives.
Indonesia has allocated 695.2 trillion Rp instimulus spending this year to support the cooling economy and fund thepandemic response with the state budget deficit expected to come in at 6.34percent of gross domestic product (GDP).
The government expects next year’s budgetdeficit to amount to 971.2 trillion Rp, 5.5 percent of GDP, given the need tofurther boost the economy and provide social and health care assistance./.
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Indonesian President Joko Widodo delivers his state of the nation speech to the People’s Consultative Assembly on August 14 (Source: jakartapost) 
