Sponsored Links
Wednesday, the Asian Development Bank approved a US$500 million loan for Indonesia to help revive its sluggish economy. The loan has a five-year repayment term and a three-year grace period.
"Indonesia's economy has been resilient during the global crisis, but with exports, private investment, and consumption still sluggish, a strong countercyclical fiscal stimulus is needed to protect the social sectors and support poverty reduction," said Arjun Thapan, the Director General of the ADB's Southeast Asia Department.
The Countercyclical Support Facility, which was established in June 2009, supports ADB's developing member countries needing to raise fiscal spending to counter the global economic crisis.
The Indonesian government had allocated around US$7.6 billion of fiscal measures to compensate the decline in private spending and investment. Without the fiscal stimulus package, Indonesia's economic growth could have slowed from its current rate of 4.3% to between 2% to 3%, the Manila-based bank said.
According to ADB, an economic growth rate of about 6% is required to bring Indonesia's unemployment and poverty reduction programs back on track.
0 komentar:
Post a Comment