Joko Widodo says new regulation enables financial authorities to protect public health, save national economy.
Widodo said he signed a new regulation that “gives financial authorities the power to take extraordinary steps to ensure public health, save the national economy and the financial system”.“The government decided that the total additional spending to manage Covid-19 is as much as 405.1 trillion rupiah,” he said adding that this will widen the 2020 budget deficit to as much as 5.07% of gross domestic product, the widest in more than a decade.
Other measures include expanding social welfare to benefit up to 10 million households, food assistance and electricity tariff discounts and waivers, he told reporters.
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