ID :
47572
Wed, 02/25/2009 - 16:01
Auther :
Shortlink :
https://www.oananews.org//node/47572
The shortlink copeid
HOUSE APPROVES STIMULUS PACKAGE
Jakarta, Feb 25 (ANTARA) - The House of Representatives (DPR) approved on Tuesday night a fiscal stimulus package which will cost Rp71.3 trillion to tackle the looming impact of the global financial crisis.
Finance Minister Sri Mulyani Indrawati at the working meeting with the DPR Budgetary Affairs Committee said the government and the House had been committed to implementing the fiscal stimulus package as early as in the first quarter of 2009.
The stimulus package is expected to increase a deficit in the 2009 state budget to Rp139.5 trillion from Rp51.3 trillion or to 2.5 percent of the gross domestic product (GDP) from 1 percent of the GDP.
The deficit is Rp2.6 trillion higher than the government has proposed in the fiscal stimulus document.
The increase is the result of the reallocation of fiscal stimulus from financing for state equity participation to infrastructure expenditures.
To offset the rising budget deficit, the House has agreed on the use of unspent budget in 2008 and unconditional loans under bilateral and multilateral schemes.
The fiscal stimulus as a cyclical counter policy is designed to deal with the impact of the global economic slowdown and that the economy is expected to grow at a range of 4-5 percent this year.
Finance Minister Sri Mulyani Indrawati at the working meeting with the DPR Budgetary Affairs Committee said the government and the House had been committed to implementing the fiscal stimulus package as early as in the first quarter of 2009.
The stimulus package is expected to increase a deficit in the 2009 state budget to Rp139.5 trillion from Rp51.3 trillion or to 2.5 percent of the gross domestic product (GDP) from 1 percent of the GDP.
The deficit is Rp2.6 trillion higher than the government has proposed in the fiscal stimulus document.
The increase is the result of the reallocation of fiscal stimulus from financing for state equity participation to infrastructure expenditures.
To offset the rising budget deficit, the House has agreed on the use of unspent budget in 2008 and unconditional loans under bilateral and multilateral schemes.
The fiscal stimulus as a cyclical counter policy is designed to deal with the impact of the global economic slowdown and that the economy is expected to grow at a range of 4-5 percent this year.
