Government planning various measures to protect economic performance
15 February 2020
Government planning various measures to protect economic performance
The government will take anticipatory and responsive steps by maintaining the purchasing power of the public and encouraging productive activities
Jakarta (ANTARA) - The Indonesian government is initiating several measures to protect the country’s economic performance from the impact of the coronavirus outbreak, the Finance Ministry has said. "The government will take anticipatory and responsive steps by maintaining the purchasing power of the public and encouraging productive activities," acting Chief of the Communication and Information Service of the Finance Ministry Nufransa Wira Sakti said in a statement released Friday.
The anticipatory measures are being initiated because the spread of the coronavirus may slow down the economic growth of China, the world's second largest economy after the United States, Sakti said.
Economic pressure on China will potentially have an impact on partner countries including Indonesia through various transmissions including tourism, international trade and investment flows, according to him.
The measures to prevent the economic slowdown include accelerating the realization of budget expenditures at ministries and non-ministerial government agencies, particularly expenditures on social assistance and non-operational expenditures.
Besides, the government will encourage tourism centers by various supporting programs including expediting the development of five super-priority tourism destinations such as Lake Toba, Borobudur Temple, Likupang, Labuan Bajo and Mandalika and prepare fiscal and non-fiscal policies to stimulate the tourism sector.
The government will also encourage and expedite labor-intensive expenditures for productive activities which employ many workers and infrastructure expenditures at central and regional levels.
It will also optimize the role of the state budget as a flexible instrument in responding to the economic situation (countercyclical) by staying within safe and controllable limits and expediting the people's business credit program. (INE)
