Gov’t Continues to Monitor Policies to Rebuild Economy

Finance Minister gives a press statement at the Presidential Office, Jakarta, Wednesday (24/6). (Photo by: Agung/PR)

The Government continues to monitor all policies aimed to rebuild the economy as the country is reeling from the COVID-19 pandemic.

According to Minister of Finance Sri Mulyani, health sector remains the Government’s top priority.

“(We are taking) measures to keep the public productive but still safe from COVID-19 by following health protocols,” the Minister said in a press statement, Wednesday (24/6).

The Minister also pointed out that the instruments on Wednesday introduce new instruments (for economic recovery) aimed to complement the existing measures.

“We’ve ordered that MSMEs be restructured and interest subsidies be provided,” she said, adding that President Joko “Jokowi” Widodo will continue to monitor whether or not the interest subsidies have been put in place and enjoyed by MSMEs in the months of June-July.

Through the measures, the Minister continued, the Government can have access to information on budget absorption.

The Government, she added, has also ordered state-owned banks (Himbara) to prioritize MSMEs in granting interest subsidies, adding that the Government will use all state expenditures being allocated.

“The President has signed Presidential Regulation Number 54 of 2020 on the 2020 State Budget revision in which budget posture with a greater deficit aimed to fund expenditures be it for social assistance, MSMEs, or business incentives and to stimulate the banking sector,” she said.

On that occasion, the Minister also said that she will continue monitor the implementation on a weekly basis so it is expected that the economy can start to grow and recover in Q3.

“We hope economic recovery can be maintained until next year. We also understand that COVID-19 continues to pose additional risks to measures for economic recovery,” the Minister said. (TGH/EN)

Translator: Muhardi
Reviewed by: M. Ersan Pamungkas