Budget Realization in National Economic Recovery Program Rises by 25%: Chief Economic Minister

Coordinating Minister for Economic Affairs gives a press statement after a limited meeting at the Presidential Office, Jakarta, Monday (24/8). (Photo by: Rahmat/PR)

Budget realization of the National Economic Recovery (PEN) program has stood at Rp173.98 trillion or accounting for 25 percent from the allocated ceiling of Rp695 trillion, Coordinating Minister for Economic Affairs Airlangga Hartarto has said.

“As of August, it has risen to Rp173.98 trillion or an 18 percent rise compared to that in the first semester at Rp124.6 trillion,” he said Monday (24/8).

According to Airlangga, in order to rebuild the economy, the Government pushed for budget absorption at ministries/institutions.

“The unused budget is diverted to programs that support productivity,” he said, adding that several programs that will continue to be encouraged are mainly related to direct cash assistance which in the near future is in the form of productive presidential assistance (banpres) or salary subsidies for those with income below Rp5 million.

Airlangga also noted that 36% of companies on the stock exchange posted better profits than that of last year.

Several sectors such as finance, communication information, and agriculture/plantations still, he added, have reported positive growth, particularly sustained by improved commodity prices both in terms of oil, nickel, precious metals, and palm oil prices.

“It is our hope that palm oil exports by the end of the year will not different from that of last year. This raises optimism that we can tackle the COVID-19 crisis and rebuild the economic simultaneously,” he said. (FID/EN)

Translator: Muhardi
Reviewed by: M. Ersan Pamungkas