Indonesia unveils bigger stimulus worth $47.6 billion to fight coronavirus impacts

first_imgThe government unveiled on Wednesday a bigger stimulus package worth Rp 677.2 trillion (US$47.6 billion) to anchor the virus-battered economy, the growth of which is expected to fall to a level similar to that of the 1998 Asian financial crisis.The latest budget, which is higher than the Rp 641.17 trillion initially allocated, aims to strengthen the healthcare system, direct more spending toward social protection to boost consumption and provide incentives to rescue Indonesian businesses from bankruptcy and workers from layoffs.Finance Minister Sri Mulyani Indrawati said the government had put in place support measures to counter an economic fallout from the coronavirus pandemic, adding that the government would again revise the macroeconomic assumption underpinning the state budget to cover for the larger stimulus package. “This is a thorough stimulus package to support people’s purchasing power and businesses,” Sri Mulyani told reporters in a livestreamed news conference. “We are hoping that this stimulus can maintain our economic growth at above zero percent.”The Indonesian economy grew 2.97 percent year-on-year (yoy) in the first quarter, the weakest in 19 years, as household spending and investment growth plunged as the outbreak hit economies around the world.Read also: Experts, activists call for heightened public scrutiny of COVID-19 policies, fundingSri Mulyani said gross domestic product (GDP) growth could be lower than the government’s projection of 2.3 percent this year. In the worst-case scenario, the government expects the economy to contract 0.4 percent. Under the new stimulus budget, the government will provide Rp 87.55 trillion for the healthcare sector, Rp 203.9 trillion to strengthen social safety net programs and Rp 123.46 trillion in incentives for micro, small and medium businesses.As much as Rp 120.6 trillion will be allocated for bigger tax incentives and Rp 97.11 trillion to support ministries and regional administrations, while Rp 44.57 trillion comprises the stimulus for state-owned enterprises (SOEs) and labor-intensive businesses.The government now projects the state budget deficit to reach 6.34 percent of GDP, up from the previous estimation of 6.27 percent. It expects state revenue to reach Rp 1.4 quadrillion this year, while state spending is projected to increase by Rp 124.5 trillion to Rp 2.74 quadrillion.“We will treat the widening budget deficit carefully in terms of sustainability and financing,” Sri Mulyani pledged. “We will look for financing sources with the lowest risk and costs.”Read also: Indonesia may lose market confidence due to mounting debts: World BankBank Indonesia Governor Perry Warjiyo pledged during the same briefing to continue buying government bonds in the primary market as the last resort and non-competitive bidder to help finance the government’s budget. The central bank has bought around Rp 26 trillion worth of bonds directly through auctions.“Close coordination between the Finance Ministry and the central bank in budget financing has fueled confidence among market players,” Perry told reporters. “With growing market optimism, we expect that the needs of our bond buying program will be small.“Bank Indonesia is also ready to minimize the government’s interest rate burden to support economic recovery if needed.”BI has injected a total of Rp 583.5 trillion since the beginning of the year to carry out monetary operations to stabilize the financial market and boost bank liquidity, among other purposes.World Bank senior economist for Indonesia Ralph van Doorn called on the Indonesian government to take steps to maintain market confidence as debt mounts amid the outbreak.“The government must [provide assurances over its] fiscal strategy to raise revenues back to at least the 2018 level to flatten the debt curve,” Van Doorn said recently.Read also: Explainer: Indonesia to finance coronavirus battle mostly through debtIt should unwind “exceptional measures” taken to battle the pandemic after the virus threat subsides, including by reinstating the deficit ceiling of 3 percent and ending Bank Indonesia’s partial financing of the deficit, he said.Indonesia’s debt-to-GDP ratio would rise to 37 percent this year, from 29.8 percent at the end of last year, van Doorn projected.Center of Reform on Economics (CORE) Indonesia economist Piter Abdullah, meanwhile, lauded the government’s move.”Although it may not be enough, the move signals that the government is flexible about adjusting the stimulus,” Piter told The Jakarta Post on Wednesday. “This would boost market confidence and help strengthen the rupiah exchange rate.”Topics :last_img read more

Ed Woodward told Ole Gunnar Solskjaer last week he’d got Manchester United job

first_img Coral BarryThursday 28 Mar 2019 10:35 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link167Shares Comment Advertisement Advertisement Solskjaer will not be returning to Molde as originally planned (Picture: Getty)Woodward, United’s executive vice-chairman, told Solskjaer last week the club wanted him to stay on, according to the Manchester Evening News.ADVERTISEMENTUnited’s club action was on hold with the international break in full flow and the Red Devils spent the next week finalizing the details of Solskjaer’s contract.AdvertisementAdvertisementSolskjaer only signed his three-year deal on Thursday morning, just before United announced publicly he was their new manager.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man Citycenter_img United told Solskjaer about their decision last week (Picture: Getty)Ed Woodward informed Ole Gunnar Solskjaer last week the club wanted him to become their permanent manager, reports say.Speculation has been swirling for several months Solskjaer was United’s choice to take over from Jose Mourinho.Solskjaer took charge in December on a caretaker basis and the club’s dramatic improvement in results and form under his guidance convinced the club hierachy he was the right choice. Solskjaer signed his deal on Thursday (Picture: Getty)The Norwegian has suffered just three defeats as United boss and steered the Red Devils past Paris Saint-Germain in the Champions League with a superb comeback in the second leg in Paris.Back-to-back defeats to Arsenal and then Watford in the FA Cup did not deter United from appointing Solskjaer.United can still make top four and qualify for next season’s Champions League. Solskjaer’s first game in charge as permanent head coach will be against Watford this weekend.Solskjaer will have the chance to celebrate his appointment at Old Trafford on Saturday when his side welcome Watford.More: FootballBruno Fernandes responds to Man Utd bust-up rumours with Ole Gunnar SolskjaerNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira moves Ed Woodward told Ole Gunnar Solskjaer last week he’d got Manchester United joblast_img read more

NZ Muslim Community: We ask the PM and MPs to oppose euthanasia

first_imgAnd perhaps most importantly, legalising euthanasia may provide the societal acceptance needed by those with suicidal tendencies in our communities to rationalise committing suicide.Passing this legislation will be tantamount to saying to our terminally ill and disabled that their lives are less valuable to the society compared to the youthful.If patients or those in pain currently can refuse treatment and die naturally as a result, why should legislation be enacted to legalise euthanasia, when it in turn places so much risk on already vulnerable members of our communities. 25 June 2019Family First Comment:“As a community we implore our elected democratic Ministers of Parliament to join us to also oppose euthanasia – and to instead focus our efforts on how to better support and care for every New Zealander. It is not for us or doctors to kill or aid others in destroying themselves. Our predominantly immigrated community will be made vulnerable under the proposed bill.”|, the voice of New Zealand’s Muslim community since 1979, is opposed to euthanasia and the End of Life Choice Bill. We give voice to our concerns on behalf of our community.As New Zealand Muslims, we are worried that the vulnerability of our community members could be exploited if euthanasia is legalised by Parliament.Islam considers all human life sacred. Life is to be protected and promoted and not terminated prematurely. It is neither permissible in Islam to kill another human being, nor even to kill one’s own self. God Says, “Do not take life, which God made sacred…” (Qur’an 17:33), and “Nor kill (or destroy) yourselves…” (Qur’an 4:29-30).As a community we implore our elected democratic Ministers of Parliament to join us to also oppose euthanasia – and to instead focus our efforts on how to better support and care for every New Zealander. It is not for us or doctors to kill or aid others in destroying themselves.Our predominantly immigrated community will be made vulnerable under the proposed bill. We outline seven key areas of concern for your consideration:Most of our community immigrated from countries where authorities are hardly questioned. We are worried that they could be suggested, pressured or coerced by authoritative figures like doctors to end their lives if they had terminal illness or disabilities.We are concerned making euthanasia legal here will normalise it for future generations and erode our cultural identity.Many of our community are much poorer compared to others in society – some having come as refugees. In cases of severe illness where health care costs are high and carers are scarce, members of the community could request euthanasia out of guilt – as many are already conditioned into thinking they are an economic burden to the society – as a way of relieving the society of their burden.Due to the high unemployment rate in our community, legalising euthanasia could make it easier for unscrupulous members of poor families to pressure terminally ill relatives to request euthanasia as a way of relieving the family of their physical and economic burden. Persons in our community who are in extreme pain and clouded by depression, shock and grief could make irrational decisions due to their conditions and request their own death by euthanasia – not giving themselves time for possible recovery or coming to terms with their condition.center_img If euthanasia were legalised, the taxes we pay to the government would be used to train and deliver the act of euthanasia – making us as taxpayers complicit in this.last_img read more

Eagles Middle School Harriers Participate At Greensburg Invitational

first_imgThe Jac-Cen-Del Junior High Cross Country teams competed the 18 school Greensburg Invitational on Monday (8/21).The JCD girls’ team finished 8th. The JCD boys’ team was incomplete.Greensburg MS CC Invite (8-21)Courtesy of Eagles Coach Steve Narwold.last_img

Cardinals 8th Grade Basketball Team OA Tourney Champs

first_imgThe St Louis Cardinals 8th Grade Basketball Team won the Oldenburg Academy of Immaculate Conception 8th grade tournament on Saturday! The Cardinals won three games in route to the championship. The Cardinals knocked off St. Nicholas by a score of 45-14 and then defeated St. Mary’s of Aurora 40-14 to advance to the Championship Game against St. Mary’s of Greensburg. Despite a hard fought effort by St. Mary’s of Greensburg, St. Louis was too much in the end as they defeated St. Mary’s of Greensburg by a score of 58-24 to win the tournament. With the three wins, the Cardinals move to 6-0 on the season. The Cardinals will be back in action on Monday, November 12th as they take on the Milan Indians at the Milan Middle School at 5:30 pm. Courtesy of Cardinals Coach Ryan Schebler.last_img read more

Lukas ​Podolski open to Arsenal return

first_img Promoted ContentThe Very Last Bitcoin Will Be Mined Around 2140. Read More6 Ridiculous Health Myths That Are Actually True7 Ways To Understand Your Girlfriend BetterBirds Enjoy Living In A Gallery Space Created For ThemDid You Know There’s A Black Hole In The Milky Way?7 Universities In The World Where Education Costs Too MuchBest & Worst Celebrity Endorsed Games Ever MadeWho Is The Most Powerful Woman On Earth?6 Incredibly Strange Facts About HurricanesPlaying Games For Hours Can Do This To Your BodyWhat Happens When You Eat Eggs Every Single Day?Top 10 Iconic Personalities On TV Now The German was an excellent signing for the Gunners, operating upfront and on the left-wing. And he suggests that he may be back one day, albeit in a coaching role. Asked about life after football, he told Arsenal Player: “We will see, I still have something inside me to play for three or four more years maybe.Advertisement “After that, maybe rest a bit, I really don’t have a plan for now because I still love to play, to be with my teammates, to fight for three points every week, I still love that and when you love something you can’t leave it. read also:Iniesta replaces Podolski as Kobe captain “What is after? I have my business, maybe something more is coming, maybe being a coach in the youth, maybe work for your hometown Koln, maybe you can do something at Arsenal, maybe you can do something at Japan. “I will see, time will tell.” FacebookTwitterWhatsAppEmail分享 Loading… Former Arsenal striker, Lukas Podolski, has admitted he may return to the club one day.last_img read more

Drinkwater completes Aston Villa move

first_imgRelatedPosts Runarsson joins Arsenal on four-year deal Mane double eases Liverpool to win over 10-man Chelsea EPL: Chelsea, Liverpool in cagey duel Chelsea midfielder Danny Drinkwater has completed a loan move to Aston Villa until the end of the season. Drinkwater spent the first half of the season on loan at Burnley, but that expired on January 6 and he has now joined Villa after Chelsea agreed to continue to pay a significant proportion of his wages. He will not play against his old club Leicester in Wednesday’s Sky Live Carabao Cup semi-final as he is cup-tied. Drinkwater’s first game in a Villa shirt could be Sunday’s game at home to the champions, Manchester City, which is live on Sky Sports Premier League. Villa had made an approach to Chelsea to take Olivier Giroud on loan for the rest of the season, but competition rules dictate that only one loan is allowed between the same two Premier League clubs, and so – with Giroud hoping to reunite with Antonio Conte at Inter Milan – Dean Smith went for Drinkwater instead. Drinkwater managed less than an hour playing time in the Premier League after joining Burnley in the summer, and an injured ankle meant he missed several weeks of football in September after being attacked by a gang of men outside a Manchester nightclub. Villa are confident Drinkwater is fit and ready to go straight into the first team, to deputise for John McGinn who is out until March with an ankle injury. Drinkwater was a key member of Leicester’s Premier League-winning side in 2015-16 before moving to Chelsea for £35 million in September 2017.Tags: Aston VillaChelseaDanny DrinkwaterManchester Citylast_img read more

Messi: CR7 rivalry’s for forever

first_imgRelatedPosts Pirlo not out to copy anyone after Juventus’ comfortable opening win Barca president Bartomeu says he won’t go to war anymore with Messi Bale completes Tottenham return from Real Madrid Lionel Messi has said his intense rivalry with former Real Madrid counterpart Cristiano Ronaldo at “the best two” clubs in the world will never be forgotten. Ronaldo left Madrid as the club’s all-time top scorer after nine seasons to join Juventus in 2018 and the two have not faced each other since. “It was special and it was a duel that will remain forever as it went on for many years and it isn’t easy to keep competing at the highest level for so long,” Messi told Dazn Italia when asked about his rivalry with Cristiano Ronaldo. “More so in the two teams that we were at, so demanding as is Madrid and Barca, the best two in the world. “Competing head to head for so many years will be remembered forever. The sporting rivalry between us was very nice on a personal level. I think that the fans also enjoyed it, be they Madrid or Barca supporters, and those who just like football in general will also have enjoyed it.” Messi won his sixth Ballon d’Or in 2019 to go one ahead of Ronaldo, who has claimed the prestigious honour on five occasions. During Ronaldo’s time in the Spanish capital he scored 450 goals in 438 matches, while Messi netted 472 goals in 476 appearances across all competitions. The Clasico had a distinct flavour when Ronaldo was at Madrid, according to Messi. “Obviously when Cristiano was at Madrid the games against them were always special,” the Argentina captain said. “It was all the more special because of what those game mean but those times are behind us and things go on, it’s what it is.”Tags: Cristiano RonaldoDazn ItaliaJuventuJuventusLionel MessiReal Madridlast_img read more

Serie A: Ronaldo double sends Juve six points clear

first_imgRelatedPosts Pirlo not out to copy anyone after Juventus’ comfortable opening win Napoli Coach: Osimhen young lad with old brain Live stream Premier League, La Liga, Serie A on Showmax Pro this weekend Cristiano Ronaldo stretched his scoring streak to nine consecutive league games with a penalty double on Sunday as Juventus bounced back from last weekend’s defeat to Napoli with a 3-0 win over Fiorentina. The Portuguese striker slotted in both his goals from the spot in either half in Turin with Dutch defender Matthijs de Ligt heading in a third in injury time. Maurizio Sarri’s side opened up a six-point lead at the top of the Serie A table on second-placed Inter Milan, who travel to lowly Udinese later on Sunday. Juventus had fallen to just their second defeat of the season last weekend at Sarri’s former club Napoli, despite Ronaldo scoring. “Cristiano Ronaldo continues to score repeatedly and for him it’s important psychologically,” said Sarri of the player who turns 35 years old next Wednesday. “Physically he’s good and making a difference. The other forwards are doing well too.” Fiorentina, in 14th position, have had a resurgence since Giuseppe Iachini took over on December 24, but suffered their first league defeat this year. Club president Rocco Commisso was furious at the penalty decisions. “I am disgusted with what I saw today,” blasted the Italian-born US businessman who bought the Tuscany club last year. “Juve are very strong, a team with a wage bill of 350 million doesn’t need help. Referees cannot decide matches. “Today they gave two penalties against us, maybe the first was there but the second certainly wasn’t.” His side tested Juventus goalkeeper Wojciech Szczesny early with the Pole getting his hand to Federico Chiesa’s back-heel kick and a Pol Lirola effort. Fellow Pole Bartlomiej Dragowski denied Rodrigo Bentancur at the other end before a VAR review confirmed Fiorentina’s German Pezzella had handled the ball in the area. Five-time Ballon d’Or winner Ronaldo made no mistake, slotting in five minutes before the break. His second came 10 minutes from time for a disputed Federico Ceccherini foul on Bentancur. Ronaldo made it 14 goals in nine games to bring his tally to 19 this season, including seven penalties. The former Real Madrid player has now scored 50 goals in 70 games since moving to Juventus in 2018. He also becomes the first Juventus player to achieve a run of goals in nine consecutive league games since David Trezeguet in December 2005. De Ligt nodded in a Paulo Dybala cross in stoppage time for his first goal at the Allianz Stadium, as Iachini fell to his first league defeat with the Tuscany side.Tags: Cristiano RonaldoFIORENTINAJuventusMatthijs de LigtMaurizio SarriNapoliSerie AUdineselast_img read more