Indonesia prepares more stimulus packages for industrial sector
The Indonesian government is preparing additional stimulus packages for the industrial sector, which was heavily affected by the COVID-19 pandemic, according to Minister of Industry Agus Gumiwang Kartasasmita.
Jakarta (VNA) – The Indonesian governmentis preparing additional stimulus packages for the industrial sector,which was heavily affected by the COVID-19 pandemic, according to Minister ofIndustry Agus Gumiwang Kartasasmita.
This strategic step is to revive the nationaleconomy, he said, adding that the amount of stimulus is 1.85 trillion Rp(132.14 million USD).
The government is reviewing incentives in theform of eliminating value added tax for local raw materials for export, andpostponing the tax payments for 90 days without fines, he added.
The ministry has also proposed restructuringcredit and providing capital stimulus for businesses, he said./.
Indonesia’s consumer confidence index (IKK) dropped to 77.8 in May from 84.83 in the previous month, indicating consumer pessimism about the domestic economy’s prospects, a Bank Indonesia (BI) survey has shown.
The Organisation for Economic Cooperation and Development (OECD) has forecast that the Indonesian economy could witness a 3.9 percent contraction this year if it is hit by a second wave of COVID-19, noting that the contraction would be the first since the 1997 financial crisis.
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Indonesia is considering opening the country for travelers from China, the Republic of Korea (RoK), Japan and Australia to recover the economy, said government official.
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Illustrative image (Source: Jakarta Globe) 
