Minggu, September 25, 2022
BerandaBusinessGovernment Expenditures Help Raise the National Economy

Government Expenditures Help Raise the National Economy

NUSADAILY.COM – JAKARTA – The government will boost spending by ministries and institutions (K / L) in the third quarter of 2020. In order to help the national economy recover, which in the second quarter yesterday was still experiencing minus growth.

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The government will also provide stimulants and subsidies to MSMEs, corporations and workers.

The Coordinating Minister for Economic Affairs explained that the President is instructed K / L to spur their respective expenditures. It is in order to help restore the national economy.

“The government must protect the health and livelihoods of the population. The health sector will be the main concern in 2020-2021, and this can be seen from its activities and budget. Then, in 2022 and 2023 there will be health and economic recovery,”. he said in his remarks at the 2020 Work Meeting and National Consultation of the Indonesian Employers’ Association (Rakerkonas Apindo) virtually, in Jakarta, Wednesday (12/8).

Indonesia’s economic growth in the second quarter of 2020 experienced a contraction of -5.32% year on year (yoy). It is down from 2.97% (yoy) in the first quarter of2020. Meanwhile, Indonesia’s economy in the second quarter of 2020 was at -4.19%, slower than the first quarter of 2020.

In terms of expenditure, growth in household consumption contracted by -5.51% (yoy), and government consumption by -6.9% (yoy). However, the agricultural sector was still able to grow positively by 2.19% percent.

“For sectors that are deeply affected (for example: accommodation-food and sea and air transportation), the government will push its own policies and stimulants for this sector. “There will be a scheme specifically discussed for hotels and restaurants, because most of the spending is from domestic (consumers),” he added.

Economic activity began to move up

Under the PEN and New Normal programs, economic activity began to move upward, although several indicators were still weak. This situation is shown in the manufacturing PMI indicator in July 2020, while in June 2020, the growth of cement, retail and car sales, as well as the Consumer Confidence Index, has headed in a positive direction as well.

Regarding labor, until July 31, 2020, the total number of formal and informal workers affected by Covid-19 reached more than 3.5 million people. If the data that has been cleaned (complete based on the name and address) by the Ministry of Manpower and BP Jamsostek, it reaches 2,146,667 people or 59.66% of the total workforce affected, while those who have not been cleaned are around 1,416,904 or 39.38 %, and prospective Indonesian migrant workers and their return of apprenticeship were 34,179 or 0.95%.

“For those affected by layoffs and already registered at the Ministry of Manpower, it has been handled and will be facilitated, one of which is the Pre-Work Card, which in the 4th batch will receive 800 thousand registrants. Meanwhile, the 600 thousand subsidies will be given to those who are still working (who are registered with BP Jamsostek), “said the Coordinating Minister for Airlangga.

The Economy Will Still be on a Positive Path Going Forward.

Airlangga also revealed that almost all international economic institutions predicts that the economy will still going forward. So, we need support from entrepreneurs. Including Apindo members, to maintain the supply and demand side in the economy.

“The Ciptaker Bill has also been discussed 75% in the House of Representatives (DPR), one of which is to reduce regulatory obesity. Then, the restructuring of MSMEs was also intensified because the President was very concerned about this. Because they are the ones most affected by the pandemic. As well as the guarantee program and economic transformation will continue. The President emphasized that the PEN program is not just a recovery. But also transformation, for example by changing business processes to be more digital, “concluded the Coordinating Minister for Airlangga. (Sir / aka)

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NUSADAILY.COM - JAKARTA - The government will boost spending by ministries and institutions (K / L) in the third quarter of 2020. In order to help the national economy recover, which in the second quarter yesterday was still experiencing minus growth.

The government will also provide stimulants and subsidies to MSMEs, corporations and workers.

The Coordinating Minister for Economic Affairs explained that the President is instructed K / L to spur their respective expenditures. It is in order to help restore the national economy.

"The government must protect the health and livelihoods of the population. The health sector will be the main concern in 2020-2021, and this can be seen from its activities and budget. Then, in 2022 and 2023 there will be health and economic recovery,". he said in his remarks at the 2020 Work Meeting and National Consultation of the Indonesian Employers' Association (Rakerkonas Apindo) virtually, in Jakarta, Wednesday (12/8).

Indonesia's economic growth in the second quarter of 2020 experienced a contraction of -5.32% year on year (yoy). It is down from 2.97% (yoy) in the first quarter of2020. Meanwhile, Indonesia's economy in the second quarter of 2020 was at -4.19%, slower than the first quarter of 2020.

In terms of expenditure, growth in household consumption contracted by -5.51% (yoy), and government consumption by -6.9% (yoy). However, the agricultural sector was still able to grow positively by 2.19% percent.

"For sectors that are deeply affected (for example: accommodation-food and sea and air transportation), the government will push its own policies and stimulants for this sector. "There will be a scheme specifically discussed for hotels and restaurants, because most of the spending is from domestic (consumers)," he added.

Economic activity began to move up

Under the PEN and New Normal programs, economic activity began to move upward, although several indicators were still weak. This situation is shown in the manufacturing PMI indicator in July 2020, while in June 2020, the growth of cement, retail and car sales, as well as the Consumer Confidence Index, has headed in a positive direction as well.

Regarding labor, until July 31, 2020, the total number of formal and informal workers affected by Covid-19 reached more than 3.5 million people. If the data that has been cleaned (complete based on the name and address) by the Ministry of Manpower and BP Jamsostek, it reaches 2,146,667 people or 59.66% of the total workforce affected, while those who have not been cleaned are around 1,416,904 or 39.38 %, and prospective Indonesian migrant workers and their return of apprenticeship were 34,179 or 0.95%.

"For those affected by layoffs and already registered at the Ministry of Manpower, it has been handled and will be facilitated, one of which is the Pre-Work Card, which in the 4th batch will receive 800 thousand registrants. Meanwhile, the 600 thousand subsidies will be given to those who are still working (who are registered with BP Jamsostek), "said the Coordinating Minister for Airlangga.

The Economy Will Still be on a Positive Path Going Forward.

Airlangga also revealed that almost all international economic institutions predicts that the economy will still going forward. So, we need support from entrepreneurs. Including Apindo members, to maintain the supply and demand side in the economy.

"The Ciptaker Bill has also been discussed 75% in the House of Representatives (DPR), one of which is to reduce regulatory obesity. Then, the restructuring of MSMEs was also intensified because the President was very concerned about this. Because they are the ones most affected by the pandemic. As well as the guarantee program and economic transformation will continue. The President emphasized that the PEN program is not just a recovery. But also transformation, for example by changing business processes to be more digital, "concluded the Coordinating Minister for Airlangga. (Sir / aka)