Budget Increase for Economic Recovery Program

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Government has announced IDR 18 Trillion in additional fund for National Economic Recovery Program. This brings the total budget for Covid-19 treatment to IDR 695,2 Trillion from previous allocation of IDR 677,2 Trillion. From this additional funding, IDR 9 trillion will be allocated to Ministry/Agencies and Local Government sector. While the other half will be used for Corporate Financing

Finance Minister, Sri Mulyani hopes that this additional funding will soften the economic pressure which has started in the 2^nd quarter. She expects that this can create positive momentum entering Q3/20 and continue to improve in last quarter of 2020.

Reference:

https://investor.id/business/anggaran-pen-bertambah-rp-18-t-biaya-penanganan-covid19-jadi-rp-6952-t