Gov’t to Accelerate Cash Transfer Assistance Disbursement to Speed up Economic Recovery
Date 24 Agustus 2020
In speeding up economic recovery, President Joko “Jokowi” Widodo ordered to accelerate the disbursement of cash transfer assistance to the public and to make sure investment growth will not go down below minus 5 percent.
President Jokowi also instructed Coordinating Minister for Human Development and Cultural Affairs Muhadjir Effendy to monitor the implementation of Cash Transfer Assistance to Villages, Cash Social Assistance, Non-cash Food Assistance in which the beneficiaries are increased, as well as Presidential Assistance for Productive Micro Enterprises, and wage subsidy.
“Do monitor the implementation since there are still problems in the data and banking accounts of the recipients,” the President said in his introductory remarks at a limited meeting at the Merdeka Palace, Jakarta, Monday (24/8).
Hopefully, he added, the disbursement of that assistances in August and September can stimulate the economic growth.
Also on that occasion, the President ordered Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan to drive the economic growth in the third quarter through increasing consumption of domestic products and making sure investment growth will not go down below minus 5 percent.
“What is Indonesia’s previous investment growth rate? Minus 8, if I am not mistaken. Thus, if we cannot achieve positive growth, at least it must not go down below minus 5. That is the point,” the President said.
In responding to the President’s instruction, Head of Investment Coordinating Board (BKPM) on Sunday (23/8) affirmed that the Board will increase investment to Rp213 trillion that is expected to stimulate the growth.
“It is not easy to increase export volume due to limited market. In addition, consumption of domestic products is stagnant because people’s purchasing power and tax revenue in July not increased,” the President said adding that the purchasing power is stuck because 50 percent of restaurants and tourist attractions are not open yet, and hotel occupancy rate is still low.
The President reiterated that it is necessary to increase investment so that growth in the third quarter can be boosted. The key is investment, he stated. (FID/EN)
Translated by : Rany Anjany
Reviewed by: Yuyu Mulyani