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March 9, 2009

Indonesia Economy:
$6bn stimulus package to prop up growth

Indonesian President Susilo Bambang Yudhoyono said Saturday that the government plans to disburse next month 73 trillion rupiah (some $6.1 billion) in stimulus package, which was approved by the House of Representative last month, the Antara news agency reported.

"I told them (ministers) 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 the news agency.

The stimulus package will be used to finance massive infrastructure projects to create jobs and boost economic growth. Indonesia targets to get a 4 to 5 percent growth this year.

In the fourth quarter last year, the economy plunged by 5.2 percent compared to the same period in 2007. The full-year growth, however, managed to achieve a growth of 6.1 percent, according to the Central Statistics Agency.

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