President: stimulus to be disbursed next month

The Jakarta Post, Jakarta | Sat, 03/07/2009 3:23 PM  

President Susilo Bambang Yudhoyono said Saturday that the government plan to disburse next month Rp 73 trillion (arounf US$6 billion) stimulus package, which was approved by the House of Representative last month. 

Yudhoyono said that he had summon several key minister to immediately disburse the funds. 

“I told them let's not be late, it had to be disbursed in April,” he said during the launching ceremony of the new Adi Soemarmo International Airport in Central Java, as quoted by Antara news agency. 

The president said that of the Rp 73 trillion, Rp 6.6 trillion will be used for irrigation and flood prevention projects, Rp 2.19 trillion  for airport, seaport and railway projects, Rp 500 billion for electricity transmission and distribution projects, Rp 400 billion for low-cost apartment towers projects, Rp 650 billion for agriculture proejcts. 

The list went on with Rp 100 billion for traditional market projects, Rp 355 billion for logistic warehouses project, Rp 300 billion for training centers for work skills projects, Rp 150 billion for hospital subsidy and Rp 365 billion for branded generic drugs subsidy. 

The president added that Rp 12.2 trillion will also distributed to several ministries to maintain their facilitis. 

The stimulus package is crucial for attaining 4.5 percent economic growth as the worsening global economy derails imports and investment. 

In the fourth quarter last year, the economy plunged 5.2 percenct compared to the same quarter in 2007, although still managed to post a full-year growth of 6.1 percent, according to the Central Statistics Agency. (dre)