By: Dodik Prasetyo) *
The economic crisis in Indonesia that occurred due to the Covid-19 pandemic made the country’s financial situation almost shaky. To overcome this, the government has prepared a national economic recovery (PEN) program which is expected to help all parties. From SOEs to MSME business owners, all received attention from the government.
The national economic recovery program is a solution to overcome the economy in Indonesia hit by the corona storm. To start this program, first the target group is the lower classes. They get social assistance in the form of cash amounting to 600,000 rupiah or it can be in the form of food packages. There is also assistance in the form of BLT and PKH for them.
In addition to helping small and medium-sized people, the national economic recovery program also helps MSME business owners. Those who have installments at the Bank, will get relief in the form of a reduction in loan interest. If usually the interest is 6 percent, so only 3 percent. In addition to reducing interest, the loan period is also extended. So their burden is slightly reduced, because the nominal must be deposited to the Bank is smaller than usual.
In addition to banks, MSME owners who have dependents in cooperatives, KUR, pawnshops, and finance companies, receive the same facilities. They also get tax intensive, so the nominal that must be given for taxes is reduced. In addition, when MSME entrepreneurs want to take more credit for additional capital, the bureaucracy will be facilitated.
Why should they be helped? Because MSME businesses have capital and turnover that is not yet too high. While they are also included in the driving force of the Indonesian economy. As a reminder, when the economic crisis occurred in 1998, the owner of the UMKM was able to survive.
The national economic recovery program not only helps the grassroots, but also SOEs. It turns out that not all BUMN companies are in good health. Therefore, the government provides assistance in the form of state capital participation. The President also instructed to provide bailout (investment) for working capital, payment of compensation, and delay in dividends. So the BUMN company that is helped, is expected to be able to improve its performance, even though it is still in a pandemic.
The government also supports export and import activities. The total lockdown policy was not chosen by President Joko Widodo, and now the airport has also begun to reopen. The port is also active again. So imports of goods from abroad were also held again. There is intensive, so the tax for imported goods and the cost of customs and excise is reduced in value. If there is a company with a good reputation, the import and export process can be accelerated. The bureaucracy is also facilitated, and exports and imports of goods are no longer restricted.
In addition to MSME business owners, import-export companies, and small people, the government also pays attention to property entrepreneurs. Why was it included in the national economic recovery program? Because the fact is that there are still many Indonesian people who do not have their own homes. While they are required to work from home.
The solution, the government can provide intensive to only one bank appointed. The state-owned bank can be selected because it has always specialized as a housing loan provider, so there is a lot of experience. In addition, if intensive is only given to 1 bank, the nominal will be greater. So the bank will be able to subsidize home installments with lower interest rates.
The government established a national economic recovery program to help restore financial conditions in Indonesia. Not only SOE companies and banks are also supported, but also small people and MSME business owners. Hopefully with the national economic recovery program, we will not fall into a recession or economic crisis in the second part.
) * The author is a contributor to the Indonesian Strategic Information Study Institute (LSISI)