ID :
89750
Sun, 11/15/2009 - 10:53
Auther :
Shortlink :
https://www.oananews.org//node/89750
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USE OF STIMULUS FUNDS MUST BE SPED UP: MINISTER
Singapore, Nov 14 (ANTARA) - Industry Minister MS Hidayat said the stimulus program must be continued and its implementation accelerated.
"The stimulus program must be continued even though the financial crisis has ended," the minister said after attending a financial ministerial meeting of the Asia Pacific Economic Cooperation (APEC) here on Saturday.
He said that the stimulus program must be continued but its implementation must be accelerated. The implementation of the program so far looked very slow. "The slow absorption of the stimulus funds was caused by bureaucratic procedures," he added.
The minister said that in practice, the finance ministry so far disbursed the funds in April and only after that tenders for stimuli programs could be called for.
"So, if the tender process takes months, practically the funds could be disbursed in mid year of 2010 so that their absorption would be slow or would be rather late," the minister said.
Therefore, he said, the bureaucratic system in the distribution of the stimulus funds should be accelerated, particularly in the ministry of finance and recipient agencies.
He said that the stimulus packages would remain to be able to attract investors as it could be seen in almost all countries affected by global financial crisis where they offered stimulus programs to speed up the recovery of their economy.***
"The stimulus program must be continued even though the financial crisis has ended," the minister said after attending a financial ministerial meeting of the Asia Pacific Economic Cooperation (APEC) here on Saturday.
He said that the stimulus program must be continued but its implementation must be accelerated. The implementation of the program so far looked very slow. "The slow absorption of the stimulus funds was caused by bureaucratic procedures," he added.
The minister said that in practice, the finance ministry so far disbursed the funds in April and only after that tenders for stimuli programs could be called for.
"So, if the tender process takes months, practically the funds could be disbursed in mid year of 2010 so that their absorption would be slow or would be rather late," the minister said.
Therefore, he said, the bureaucratic system in the distribution of the stimulus funds should be accelerated, particularly in the ministry of finance and recipient agencies.
He said that the stimulus packages would remain to be able to attract investors as it could be seen in almost all countries affected by global financial crisis where they offered stimulus programs to speed up the recovery of their economy.***
