Indonesia announces new economic packet to revive growth

17:41 | 20/10/2015 Global Economy

The Indonesian government has announced the fourth out of its five economic stimulus packages in a bid to reverse the domestic economy’s slowdown, according to national news agency Antara.

Indonesia announces new economic packet to revive growth

A customer counting Indonesian rupiah banknotes at a shop in Jakarta on Aug 25, 2015 (Photo: AFP)

The new stimulus package will create more jobs, adjust regulations on the minimum wage, boost micro-loans and support exports by smaller firms. As such, these companies will enjoy an interest rate of 12 percent for small credits – much lower than the previous 22 percent.

Cabinet Secretary Pramono Anung said the initiative was expected to open up employment and investment opportunities.

Chief Economics Minister Darmin Nasution admitted the first package was overly ambitious, but the second and third brought short-term change and results that were more practical./.

Source: VNA