Indonesia’s President Joko Widodo, on Tuesday, said he had signed a regulation to let the government significantly raise spending in its fight against the coronavirus and widen the 2020 budget deficit to 5.07 per cent of GDP.
Widodo also announced a national public health emergency and said the government would spend 405.1 trillion rupiahs ($24.85 billion) more on COVID-19 response, social welfare programmes and economic stimulus, including a three percentage point cut in corporate tax rates to 22 per cent.
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The emergency regulation is effective immediately, but parliament must approve it to turn it into law in its current session.
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