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Indonesia needs to spend 40 billion USD recovering economy: business group

The Indonesian government should increase economic recovery spending to 600 trillion Rp (40.17 billion USD) to help domestic businesses cope with the economic impacts of COVID-19, according to the Indonesian Chamber of Commerce and Industry (Kadin).
Indonesia needs to spend 40 billion USD recovering economy: business group ảnh 1Spraying disinfectant on a public place in Jakarta, Indonesia (Photo: Xinhua/VNA)

Hanoi (VNA) – The Indonesian governmentshould increase economic recovery spending to 600 trillion Rp (40.17 billionUSD) to help domestic businesses cope with the economic impacts of COVID-19,according to the Indonesian Chamber of Commerce and Industry (Kadin).

Kadin Vice Chairwoman Shinta Kamdani said at anonline press conference on May 14 that the current budget for the economicrecovery programme would be insufficient to support businesses, adding thatmany enterprises only have enough cash to maintain their operations by June.

President Joko Widodo should raise spending toabout 600 trillion Rp for economic recovery, 600 trillion Rp for social securityprogrammes and another 400 trillion Rp for the health system, Shintasuggested.

According to Kinda data, Indonesia’s grossdomestic product (GDP) fell to a 19-year low of 2.97 percent in the firstquarter of this year due to the impact of COVID-19.

The government is mulling a plan to begin easingCOVID-19 social restrictions in June to allow businesses to resume operationsgradually./.
VNA
#COVID-19 #Indonesian government #economic recovery #Indonesian Chamber of Commerce and Industry (Kadin) #President Joko Widodo #Vietnamplus #Vietnam News Agency Indonesia
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