Indonesia approves $6.15 bn stimulus package

Indonesia approves $6.15 bn stimulus package
AFP
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First Published: Wed, Feb 25 2009. 10 53 AM IST
Updated: Wed, Feb 25 2009. 10 53 AM IST
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.
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First Published: Wed, Feb 25 2009. 10 53 AM IST