Government Allocates Largest Fiscal Stimulus for Social Protection
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The COVID-19 pandemic brought all aspects of life and activity to a standstill. To mitigate the worsening impact, the Ministry of Finance allocated a budget of Rp695.2 trillion for COVID-19 handling through fiscal stimulus. This budget was increased from the previous allocation of Rp677.2 trillion.
This stimulus is expected to help recover the economy after the pandemic. "So, the entire state budget is focused on reducing the heavy pressure in the second quarter of 2020," said Minister of Finance Sri Mulyani.
The largest portion of the budget was allocated to social protection, at 29 percent (Rp203.9 trillion). The smallest allocation was for corporate financing, at 8 percent (Rp53.57 trillion).
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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