JAKARTA. The government is hoping to settle all regulations contained in its 12 economic policy packages by the end of this month, in a bid to speed up the stimulus on the economy.

As of Tuesday, the government had completed 194 of the total 203 regulations - including both new and revised rules - that have been pledged since September 2015 when the first economic package was launched.

The remaining nine regulations were still under discussion, Coordinating Economic Minister Darmin Nasution said at a press conference after a limited meeting at the State Palace on Tuesday.

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"Mr. President said it has to be completed this month," he said, adding that a task force would be formed to monitor the implementation of the deregulation policies from the bureaucratic level within the central government down to local regions.

Seven of the 12 policy packages have seen all newly pledged regulations fully completed. In total, the seven packages contain 52 regulations. The nine in-process regulations are scattered across the first, fourth, seventh, ninth and 11th packages.

The 203 regulations, mostly aimed at deregulating bureaucracy and several fields of business to attract investment, will involve 26 ministries. "We’re still talking with the related ministries and institutions. It’s an ongoing process," Darmin said.

Cabinet Secretary Pramono Anung added that with the deregulation efforts, he expected a better investment climate in Indonesia that would attract investors to spend more in the country and contribute to higher economic growth.

"Our economy grew 4,9% in the first quarter of 2016, while in the same period last year it only grew 4,7%. We expect to see higher growth at the end of this year," he said. (Ayomi Amindoni)