Government to offer economic stimulus to MSMEs affected by COVID-19

Government to offer economic stimulus to MSMEs affected by COVID-19

President Jokowi led a limited cabinet meeting from the Bogor Palace by a video broadcast. ANTARA/HO-Biro Pers Setpres.

Jakarta (ANTARA) - President Joko Widodo (Jokowi) echoed the government’s decision to offer economic stimulus to micro small and medium enterprises (MSMEs) impacted by the COVID-19 pandemic to help their businesses stay afloat in this challenging scenario.

The government will immediately prepare an economic stimulus for MSMEs and informal businesses, Jokowi remarked while chairing a limited cabinet meeting via a live video broadcast at the Bogor Presidential Palace, West Java, on Monday.

"For MSMEs, self-employed people, and informal workers, we have already discussed that the government will immediately prepare social safety net programs and economic stimulus," the president noted.

The government will announce social safety net programs and economic stimulus in the near future.

"This is what we will soon announce to the public," he stated.

Several parties are upbeat about the government offering special assistance and treatment to MSMEs affected by the COVID-19 outbreak.

The current condition differs from the economic crisis in 1998 when the MSME sector had, in fact, become the economic support at a time when the country's banking sector had collapsed.

During this time, MSMEs are bearing the maximum brunt of the COVID-19 outbreak that led to a significant decline in the people's purchasing power, particularly at the lowest level. Related news: Third stimulus package to focus on health sector, says minister
Related news: Govt sets aside Rp160 tln budget stimulus to tackle COVID-19 fallout


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