Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Politics / News/  Indonesia approves $6.15 bn stimulus package
BackBack

Indonesia approves $6.15 bn stimulus package

Indonesia approves $6.15 bn stimulus package

Premium

Jakarta: Indonesia’s parliament has approved a $6 billion stimulus package to protect the country from the worst impacts of the global economic crisis, lawmakers said Wednesday.

The parliamentary budget committee approved the plan worth 73.3 trillion rupiah ($6.15 billion) late Tuesday.

“We approved the stimulus in accordance with the government’s efforts to overcome the effects of the global slump," committee deputy chairman Suharso Monoarfa said.

“We hope that the stimulus can prevent rising unemployment, sustain consumer spending capability and strengthen businesses."

The stimulus consists of 56.3 trillion rupiah of tax incentives and 17 trillion in additional government spending and subsidies.

The government will start to implement the stimulus in March.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 25 Feb 2009, 10:53 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App