TEMPO.CO, Jakarta - Finance Ministry Sri Mulyani Indrawati is in the process of reallocating state-ministry and state agency budgets towards the handling of coronavirus (COVID-19) crisis. Sri Mulyani said that the amount of funds that will be relocated had reached IDR 62.3 trillion.
"It is sourced from government travel funds, spending on non-operational goods, blocked funds, up to the backup outputs," said Sri Mulyani in an online press conference on fiscal and monetary policies amid the coronavirus outbreak on Friday, March 20, 2020.
The decision was made following Rupiah's depreciation to IDR 16,000 against the US Dollar and the drop suffered by the Indonesian Composite Index (IHSG) to a level of 4,000. The financial dive comes amid the rising number of positive coronavirus cases that totals to 309 people.
Sri Mulyani assured that the budget relocation process will only need two days to complete. The government will also communicate with the House of Representatives (DPR) for the changes in the State Budget.
The budget reallocation will also affect the IDR 72 trillion village funds as ordered by the President. The Finance Ministry will also add new sets of policies that will order funds transferred to regions to be used to the national mitigation against coronavirus.