Jakarta (ANTARA) Coord inating Minister for Economic Affairs Airlangga Hartarto spoke of President Joko Widodo (Jokowi) having approved four new programs in the 2022 National Economic Recovery (PEN) program through front loaded funding.
“Allocation of the 2022 PEN program will reach Rp414.1 trillion,” he stated at the Reflection on 2021 Achievements and 2022 Economic Outlook here on Thursday. The new programs comprise the three-percent interest subsidy for people’s business loans (KUR) during the January-June 2022 period as well as the expansion and acceleration of the Cash Assistance Program for Street Vendors and Stalls (BTPKLW).
The programs will also include the incentives for value-added tax (PPN) borne by the government (DTP) for housing as well as incentives for luxury goods sales tax (PPnBM) DTP for automotive.
Earlier, the four programs had not been included in the 2022 PEN budget allocation that comprised Rp117.9 trillion for the health sector, Rp154.8 trillion for social protection, and Rp141.4 trillion for strengthening economic recovery. The coordinating minister estimated the extension of the KUR interest subsidy in 2022 to cost Rp5.64 trillion and an increase in the KUR ceiling, from Rp285 trillion in 2021 to Rp378 trillion in 2022.
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