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Bloomberg
Indonesia has pledged to boost stimulus efforts aimed at countering the coronavirus crisis by as much $1.8 billion, Finance Minister Sri Mulyani Indrawti said, as the outlook for Southeast Asia’s biggest economy continues to deteriorate.
The government is preparing a raft of new measures to support the economy, Indrawti said on Wednesday, including re-allocating as much as 10 trillion rupiah ($657 million) from the state budget. Another 17.2 trillion rupiah may be shifted from funds earmarked for regions to help combat the fallout stemming from the virus.
The new measures come in the wake of two rounds of fiscal stimulus already announced in recent weeks, including a 22.9 trillion rupiah package announced on March 13.
Cases of Covid-19 have soared in Indonesia in recent days, prompting the government to step up containment and efforts to insulate the economy.
People in informal work are set to be given financial assistance, Indrawati said, although did not provide details.
The government would also move to secure and distribute basic supplies in the event areas are locked down.