The government of Indonesia will announce a fourth stimulus package on Thursday (15/10). This new edition will focus on safeguarding employment in Indonesia. Due to the country's economic slowdown, concern about unemployment has risen. The Confederation of Indonesian Workers Unions (KSPSI) recently said that over 62,000 Indonesian workers lost their jobs during the first nine months of 2015.
Furthermore, the Indonesia Textile Association (API) stated that over 100 textile companies are currently on the verge of collapse due to weak demand for textile products. Bankruptcies could lead to an additional 36,000 layoffs.
Last week, the government announced to establish a help-desk at the Investment Coordinating Board (BKPM) where troubled companies, engaged in labor-intensive sectors (textile and footwear industries), can request for support to prevent further layoffs.
Policies set in the fourth economic stimulus package are currently being prepared and will be released on Thursday, Indonesian Chief Economics Minister Darmin Nasution told reporters.
On Wednesday (14/10), financial markets are closed in Indonesia due to Islamic New Year celebrations.
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When will Indonesia's economic growth rebound?
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