Cash Transfers for Indonesian MSMEs to be Extended to Next Year

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The minister said 307 trillion rupiahs ($20.7 billion) from the 2020 state budget has been allocated for ministries or institutions that could be utilized by the MSMEs. However, he said, it is only used about eight percent of the budget allocation. “Therefore, we are also working with the LKPP [National Public Procurement Agency] to accelerate its absorption,” he said.

He added that the Ministry of Cooperatives and Small-Medium Enterprises also works closely with the Ministry of State-Owned Enterprises to encourage the MSMEs to participate in projects below 19 billion rupiahs ($1.2 million) such as in the procurement of goods and services as well as the infrastructure sector.

(Writer: Elsa Catriana | Editor: Erlangga Djumena)

Source: https://money.kompas.com/read/2020/09/08/063400426/menkop-teten-soal-blt-umkm-rp-24-juta-diperpanjang.