KONTAN.CO.ID - JAKARTA. Indonesia announced a 120 trillion rupiah ($8.1 billion) stimulus package on Friday to support Southeast Asia's biggest economy as the spread of the coronavirus disrupts global activity. The stimulus, representing 0.8% of gross domestic product (GDP), includes exempting some workers in manufacturing from income tax and giving manufacturing companies a discount on corporate tax payments, Finance Minister Sri Mulyani Indrawati told a news conference. Indrawati has previously warned that Indonesia's economic growth could slow to 4.7% this year if the virus outbreak slows Chinese and global growth. Indonesia's economy grew 5.02% last year.
Indonesia to support economy with $8 bln stimulus to counter virus impact
KONTAN.CO.ID - JAKARTA. Indonesia announced a 120 trillion rupiah ($8.1 billion) stimulus package on Friday to support Southeast Asia's biggest economy as the spread of the coronavirus disrupts global activity. The stimulus, representing 0.8% of gross domestic product (GDP), includes exempting some workers in manufacturing from income tax and giving manufacturing companies a discount on corporate tax payments, Finance Minister Sri Mulyani Indrawati told a news conference. Indrawati has previously warned that Indonesia's economic growth could slow to 4.7% this year if the virus outbreak slows Chinese and global growth. Indonesia's economy grew 5.02% last year.