The government revised several regulations for National Economic Recovery programs in Government Regulation No. 43/2020 where one of which stressed that government funds would not be placed in private banks.
The government will distribute salary aids to 13.8 million workers. However, data collection and recipient verification only rely on BP Jamsostek.
Indonesia's economy contracted 5.3 percent in the second quarter of 2020, worse than the market consensus of 4.72 percent.
A broad foreign sell-offs occurred in the stock and bond markets as concerns over the COVID-19 case keeps growing, especially in Jakarta. Meanwhile, economic growth sees a steeper slump in the second quarter of 2020.
The government is facing yet another dilemma. On the one hand, it has to maintain the PSBB relaxation to keep the economy running. Unfortunately, the positivity rate of COVID-19 PCR tests is way above the WHO's safe limits.
Citizens' mobility from the red zone to regions will increase.
The land price is higher than in neighboring countries.
Finance Minister Regulation No. 88/2020 can be downloaded at the end of this article.
The July 2020 APBNKita presentation can be downloaded at the end of this article.
Setting up the metropolitan areas becomes crucial during the COVID-19 pandemic.