The 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 :
Osaka continued to struggle deep into the match before winning the last five games of a 6-3, 6-7, 6-2 triumph over 18-year-old Marta Kostyuk. The 2018 Open champ heaved her racket during the second set and admitted to cursing at herself before improving to 7-0 since the WTA Tour resumed during the coronavirus pandemic.Also moving into the fourth round is 2016 U.S. Open champion Angelique Kerber, who beat 20-year-old American Ann Li in straight sets. Kerber’s next opponent is another American, 28th-seeded Jennifer Brady, who beat Caroline Garcia. Sixth-seeded Petra Kvitova has moved into the fourth round of the U.S. Open with a 6-4, 6-3 win over American Jessica Pegula.American teenager Caty McNally reached the third round with a rain-delayed victory against Ekaterina Alexandrova, 4-6, 6-3, 7-6. Her win put 11 U.S.-born women in Round 3. Eighth seed Petra Martic claimed her third-round match in straight sets. September 5, 2020 ATLANTA (AP) — Jon Rahm and Dustin Johnson share the first-round lead after one round of the PGA’s Tour Championship. Rahm fired a 5-under 65 that allowed him to make up the two-shot deficit. Johnson was awarded the two-shot edge over Rahm at the start of the round for being No. 1 seed in the FedEx Cup. Johnson shot a 67 but lost a three-shot edge early with back-to-back bogeys to end the front nine and a bogey on 18. Justin Thomas is alone in third, two off the pace and two ahead of Rory McIlroy.TENNIS-US OPEN TCU postpones SMU game after positive testsDALLAS (AP) — TCU and SMU have postponed their Sept. 11 matchup in Fort Worth after the Horned Frogs said that some players and support staff tested positive for the coronavirus.TCU athletic director Jeremiah Donati said the programs would try to make up the game at a later date. In other outbreak news:— The Indianapolis Colts say they will allow a maximum of 2,500 fans at Lucas Oil Stadium for the team’s home opener Sept. 20 against the Minnesota Vikings. That number was determined following discussions with the Marion County Public Health Department and set to meet local, NFL and CDC guidelines to help limit the spread of COVID-19. Winners on the men’s side Friday include fifth seed Alexander Zverev and seventh seed David Goffin.NFL-NEWSWashington cuts APUNDATED (AP) — Washington’s NFL team has pulled off a stunning surprise by releasing veteran running back Adrian Peterson. Head coach Ron Rivera called Peterson early in the morning asking him to come to the facility, then delivered the news that the team was moving on from the 35-year-old. The decision comes as teams need to get to the 53-man limit by Sunday. Update on the latest sports Osaka overcomes test from teenager NEW YORK (AP) — Top-seeded Novak Djokovic (JOH’-koh-vihch) stayed perfect for 2020 and advanced to the fourth round of the U.S. Open with a straight-sets win.He beat Germany’s Jan-Lennard Struff 6-3, 6-3, 6-1 in an hour and 43 minutes, holding serve throughout. Djokovic has won his last 29 matches and is 26-0 this season, making him a prohibitive favorite to get his fourth U.S. Open title. Fourth seed Naomi Osaka is among Friday’s third-round winners. KENTUCKY DERBY-SCRATCHDerby field down to 16LOUISVILLE, Ky. (AP) — The field for the Kentucky Derby has been reduced to 16 after Finnick the Fierce was scratched. The one-eyed gelding has an apparent foot issue. Saturday’s Derby will have its fewest starters since 2003, when Funny Cide beat 15 rivals. SPORTS-VIRUS OUTBREAK Peterson played the past two seasons with Washington. He’s 1,053 yards behind Barry Sanders for fourth on the all-time rushing list and needs 12 TDs to catch Marcus Allen for the third most in NFL history.In other NFL news:— The Broncos have released inside linebacker Todd Davis, their leading tackler in three of the last four seasons. He had 134 defensive stops last year despite missing the first two games. — Former All-Pro punter Greg Montgomery has died at 55. Montgomery spent nine years in the NFL with Houston, Detroit and Baltimore, earning All-Pro honors with the 1993 Oilers. He led the league in punting three times.— The Raiders have released safety Damarious Randall. Randall is the second veteran defensive back to be cut by the team this week after signing a free-agent deal in the offsesaon. — Corbin Burnes was sharp in the Brewers’ 7-1 win over the Indians, allowing an earned run and three hits while fanning seven over six innings. Keston Hiura (HEER’-uh) supplied a two-run homer and three RBIs, while Ben Gamel had three of Milwaukee’s 12 hits.— The Mariners doubled up the Rangers, 6-3 as Yusei Kikuchi (YOO’-say kih-KOO’-chee) held Texas to a run and just two hits in six innings. J.P. Crawford’s three-run blast gave Seattle a 6-1 lead in the eighth.MLB-NEWSIndians’ Francona recovering, still unable to rejoin teamUNDATED (AP) — Indians manager Terry Francona is feeling better after undergoing surgeries and a hospital stay. However, it may be some time before he’s healthy enough to rejoin the AL Central leaders. James Harden scored 36 points and the Houston Rockets ran away from the Lakers, 112-97.Russell Westbrook added 24 points, nine rebounds and six assists for the Rockets, who had just one day of rest after closing out a seven-game series against Oklahoma City. Eric Gordon chipped in 23 points and helped Houston go on a 16-3 run in the final period to go ahead by 19.Anthony Davis had 25 points and 14 rebounds for the Lakers, while LeBron James had 20 points, eight boards and seven assists.Game 2 is Sunday.NBA-SIXTH MAN AWARD — Anthony Alford laced a two-run triple and came around to score on a wild pitch, all in the fourth inning of the Bucs’ 4-3 downing of Cincinnati. The Reds had to settle for a split despite homers by Eugenio (eh-oo-HAY’-nee-oh) Suarez and Mike Moustakas (moos-TAH’-kahs) in the nightcap.— The Phillies earned their fifth straight win as Jake Arrieta gave up two runs over seven innings of their 5-3 decision over the Mets. Roman Quinn’s RBI single in the seventh put Philadelphia ahead to stay.— Rookie left-hander Josh Fleming won his third consecutive start and Michael Perez had a three-run double to propel the AL East-leading Rays past the Marlins, 5-4. Yoshi Tsutsugo (YOH’-shee soo-SOO’-goh) homered in Tampa Bay’s 20th win in their last 25 games.— The Yankees beat the Orioles for the 19th straight time as Miguel Andujar (an-DOO’-hahr) furnished the tiebreaking single in the ninth inning of a 6-5 victory at Baltimore. Gary Sanchez homered and Brett Gardner had two RBIs in the Game 1 win.— The Orioles finally beat the Yanks for the first time since March 2019. Ryan Mountcastle hit a two-run homer and sparked a four-run fifth inning with an RBI single in the Birds’ 6-3 win against New York. Associated Press Harrell named NBA’s top subLAKE BUENA VISTA, Fla. (AP) — Los Angeles Clippers forward Montrezl (MAHN’-trehz) Harrell has been voted the NBA Sixth Man Award after averaging a career-best 18.6 points in 63 games before the pandemic shutdown of the regular season.The Clippers have come away with four of the last five Sixth Man Awards. Teammate Williams had won it the previous two seasons before finishing third this year.Harrell received 58 first-place votes from a panel of 100 writers and broadcasters, earning 397 points. Dennis Schroder (SHROO’-dur) of Oklahoma City was second with 35 first-place votes and 328 points.NHL-STANLEY CUP UNDATED (AP) — The defending World Series champs ended a seven-game losing streak with a split of their doubleheader against the Braves, but they still own the National League’s second-worst record at 13-24.Ronald Acuña (ah-KOON’-yuh) Jr. homered twice and Dansby Swanson added a two-run shot as Atlanta roughed up the Washington Nationals, 7-1 in Game 1 of a doubleheader. Swanson finished with three RBIs, including an RBI single in the sixth. The Braves had won five straight until Michael Taylor hit a two-run double and had three RBIs in Washington’s 10-9 win in Game 2. Freddie Freeman’s grand slam tied the game, 7-7 in the fourth, but the Nats regained the lead on Trea Turner’s fifth-inning solo homer.Elsewhere around the majors:— AJ Pollock, Joc Pederson and Mookie Betts homered in the eighth inning to power the Dodgers to their sixth straight win, 10-6 over the Rockies. The NL West leaders rallied after Kevin Pillar’s erased the Dodgers’ 5-2 lead in the top of the eighth. Francona has missed 23 games after having surgery for a gastrointestinal issue at the Cleveland Clinic and then having complications from blood clotting. In other MLB news:— Cardinals catcher Matt Wieters (WEE’-turz) has been activated from the 10-day injured list after being sidelined by a broken left big toe. Catcher Andrew Knizner was optioned to the team’s alternate training site to make room for Wieters, who is 0 for 12 in six games this year.PGA-TOUR CHAMPIONSRahm catches Johnson at Tour Championship — Kyle Davies tossed four-hit ball over seven innings of the Padres’ 7-0 shutout of the Athletics. Fernando Tatis (tah-TEES’) Jr. belted his 14th homer and a two-run double for San Diego, which also received round-trippers from Manny Machado and Luis Campusano.— The Angels squandered a three-run lead in the ninth before beating the Astros, 6-5 on Shohei Ohtani’s (SHOH’-hay oh-TAH’-nayz) RBI single in the bottom of the 11th. Mike Trout scored the winning run after belting his 299th home run to tie Tim Salmon’s club record.— Ketel Marte homered, doubled twice and singled as the Diamondbacks beat the Giants, 6-5 to snap a five-game losing streak. Nick Ahmed (ah-MEHD’) had three hits for the Diamondbacks and rookie catcher Daulton Varsho drove in two runs.— Yu Darvish carried a perfect game into the sixth inning and won his seventh straight decision as the Cubs beat the Cardinals, 4-1. Willson Contreras had three hits and four RBIs to back Darvish, who limited St. Louis to one hit while striking out 11 over seven frames.— Nick Castellanos (kas-tee-AH’-nohs) hit his 11th home run for the Reds in a 4-2 win over the Pirates in Game 1 of a doubleheader. Luis Castillo struck out eight over six strong innings of his first major league win since last September. Stars prevail in OT, Knights close out CanucksEDMONTON, Alberta (AP) — It took three tries this week, but both the Dallas Stars and Vegas Golden Knights have finally advanced to the NHL’s Western Conference finals. The Stars are this far into the postseason for the first time since 2008, while the Golden Knights are in the conference final for the second time in their three-year history.Rookie Joel Kiviranta completed his first NHL hat trick 7:24 into overtime to give the Stars a 5-4 win over the Colorado Avalanche. Kiviranta also provided the tying tally with 3 1/2 minutes left in regulation, just 10 seconds after Vladimir Namestnikov (nah-MEHST’-nih-kahv) put the Avs ahead. Kiviranta had played in just two other postseason games and scored one goal in 11 games during the regular season.Alexander Radulov (RAD’-yoo-lahv) provided the other Dallas goals, and Anton Khudobin (hoo-DOH’-bihn) stopped 40 shots. Colorado was trying to win the series after dropping three of the first four games.The Golden Knights put away the Vancouver Canucks with a stifling 2-0 victory. Robin Lehner needed to make just 14 saves for his third shutout of the series.Neither team scored until Shea Theodore netted a power-play goal with 6:08 remaining. Alex Tuch (tuhk) and Paul Stastny (STAS’-nee) added empty-netters for Vegas, which dropped the previous two games before earning a meeting with the Stars.MLB-SCHEDULEBraves, Nats split twinbill — Toronto won the opener of a twinbill as Danny Jansen hit a two-run homer, Travis Shaw had a solo shot in an 8-7 downing of the Red Sox. Shaw went 3 for 4 with a double in the Blue Jays’ third straight win and seventh in nine games.— The Bosox ended a five-game skid by taking the nightcap as Yairo Muñoz had three hits in a 3-2 over the Jays. Muñoz went a combined 6 for 7 in the twinbill with a two-run homer, two doubles and three RBIs.— Jose Abreu (ah-BRAY’-oo) extended his hitting streak to 18 games with a two-run double in the White Sox’s 7-3 verdict over the Royals. Eloy (EE’-loy) Jimenez had three hits and Chicago took over the AL Central lead with its 14th win in 18 games.— Jorge Polanco and Josh Donaldson hit back-to-back homers leading off the bottom of the first before the Twins held off the Tigers, 2-0 in Game 1 of a doubleheader. Randy Dobnak allowed four hits over five innings to get the win.— The Twins completed a sweep by downing the Tigers, 3-2 on an RBI single by Marwin Gonzalez in the eighth. Sergio Romo pitched a perfect seventh and Trevor May picked up the save in Minnesota’s fourth straight win. The Heat trailed by 12 before outscoring the top-seeded Bucks, 40-13 in the fourth quarter of a 115-100 triumph against Milwaukee. Jimmy Butler scored 17 of his team-high 30 points in the final period.Bam Adebayo (ad-a-BY’-oh) had 20 points and 16 rebounds for Miami, which pulled off its biggest fourth-quarter comeback in playoff history. Jae Crowder had 17 points to help the Heat improve to 7-0 in this postseason.The Bucks got 21 points, 16 rebounds and nine assists from Giannis Antetokounmpo (YAH’-nihs an-teh-to-KOON’-poh), who twisted an ankle in the first quarter and appeared to labor at times.Miami will go for an unexpected sweep on Sunday.The other No. 1 seed is the Los Angeles Lakers, who dropped their opener for the second straight series. Share This StoryFacebookTwitteremailPrintLinkedinRedditNBA PLAYOFFSHeats beat Bucks again for 3-0 leadLAKE BUENA VISTA, Fla. (AP) — The Miami Heat are on the verge of reaching the NBA’s Eastern Conference finals for the first time since the days of LeBron James, Dwyane (dwayn) Wade and Chris Bosh in 2014.