The first stimulus package earlier this month was implemented shortly after Widodo shifted around his cabinet to bring experienced policymakers into economic positions. However, observers believed that the first round was not enough to bolster the economy and rupiah, but the second shot looks promising.
“This is quite a good move from the government,” Josua Pardede, an economist from Indonesia’s Bank Permata, told Rappler. “But the market hopes the government can do more to build confidence for portfolio investment and to boost slumping domestic consumption.”
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Max Chen contributed to this article.