Indonesia to unveil stimulus plan on Thursday

Jakarta, Oct 12 (IANS) The Indonesian government is to announce the fourth batch of economic stimulus measures on Thursday to lure investment and revive economy, officials said on Monday.

Indonesia has launched three stimulus packages since last month, which has boosted rupiah value against the US dollar, Xinhua news agency reported.

“The package will be unveiled on Thursday. Now we are preparing it,” Indonesian Economic Chief Minister Darmin Nasution said.

Rupiah has appreciated to 13,466 on Monday from the level of 14,700 before the third batch stimulus package was announced on October 7.

Manpower sector is one of the items included in the packaged, he said.

Indonesian President Joko Widodo has slashed gasoline subsidies and travel budget for authorities to free up funds to support massive infrastructure projects to pursue his target of more than seven percent GDP growth at the end of his five-year tenure ending in 2019.

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