Indonesia to announce third stimulus package on Wednesday

[JAKARTA] Indonesia will announce a third stimulus package on Wednesday aimed at supporting consumption, streamlining the bureaucracy and reviving economic growth, the chief economics minister said.

The government already rolled out two sets of measures last month as part of a strategy to re-energise Southeast Asia's largest economy after growth in the second quarter slowed to the slowest pace in six years.

Darmin Nasution, Coordinating Minister for Economics, told reporters that the announcement could come later in the day at 5pm Jakarta time (1000 GMT).

Last week, President Joko Widodo ordered his cabinet ministers to review fuel prices and banks' lending rate and see if the two can be lowered to help boost purchasing power.

REUTERS