Ministry to continually monitor COVID-19 impacts on Indonesian economy

Ministry to continually monitor COVID-19 impacts on Indonesian economy

Deputy Finance Minister Suahasil Nazara (left) and President of the Asian Development Bank (ADB) Masatsugu Asakawa (center) at the launch of a book on 50 years of partnership with ADB in Jakarta on Tuesday (Mar 3, 2020). ANTARA/Dewa Wiguna/sh

It has impacted production and the supply chain. If this pandemic continues to persist, it will weaken investment
Jakarta (ANTARA) - The Finance Ministry has constantly monitored the impact of the coronavirus outbreak on Indonesia's economy, as the disease has spread further to 65 nations, including Indonesia.

"In China, the number of new infections has declined, but cases surfaced in other countries, such as Italy, South Korea, and Indonesia. This has not yet stopped, so we continue to monitor it," Deputy Finance Minister Suahasil Nazara remarked at a book launch with the Asia Development Bank (ADB) here on Tuesday.

Nazara stated that some policies had been made as a precautionary measure against the impact of the outbreak, including the central bank BI's decision to lower its benchmark interest rate to 4.75 percent.

The Finance Ministry has issued the policy of fiscal stimulus that include the discount price for flight tickets to boost the tourism sector.

The Financial Services Authority (OJK) will also issue a policy as a precautionary measure against non-performing loans, he stated.

The minister stated that those policies are projected to safeguard the Indonesian economy from the impact of the coronavirus or COVID-19 outbreak.

ADB President Masatsugu Asakawa has lauded Indonesia's swift response to handle the impact of the coronavirus outbreak, as it has affected the global economy.

Asakawa noted that COVID-19 has undermined the consumption sector as well as investment, tourism, and trade.

"It has impacted production and the supply chain. If this pandemic continues to persist, it will weaken investment," he added. Related news: Minister prepared to apportion additional budget for handling COVID-19

Related news: Government to offer 50-percent discount on flight ticket prices


EDITED BY INE

Comments