Indonesia relaxes debt payment for SMEs hinh anh 1Illustrative image (Photo: Xinhua)
Jakarta (VNA)Indonesian President Joko Widodo said on March 24 that his government has agreed to extend debt payment deadlines for small- and medium-sized enterprises (SMEs) for one year.

Accordingly, the scheme will be applied for loans worth 10 billion rupiah (619.1 trillion USD) from banks and non-financial organisations to help SMEs cope with COVID-19 epidemic.

He added that creditors are prohibited from demanding loan installments, especially through debt collection services.

Chairman of the Micro, Small and Medium Enterprises (MSMEs) Association Ikhsan Ingratubun said SMEs sales have dropped by 30 – 35 percent nationwide since the beginning of this March.

Earlier, the Indonesian government launched two stimulus packages worth 22.9 trillion rupiah and 10.3 trillion rupiah, including individual and corporate income tax breaks and the relaxation of loan disbursements and restructuring requirements./.