2022 State Budget: Fiscal Policy and Structural Reform
Government Support for MSMEs During the Covid-19 Pandemic
In the form of relaxation of asset quality assessments, postponement of principal & interest subsidies, low-interest working capital loans guaranteed by Askrindo
and Jamkrindo, tax incentives for MSMEs borne by the government, and Productive Presidential Assistance for Micro Enterprises
MSMES CREDIT RESTRUCTURING
WORKING CAPITAL CREDIT
1
ASSET QUALITY
ASSESSMENT
POSTPONEMENT OF PRINCIPAL & INTEREST
2
3
SUBSIDIES
According to POJK
KUR Super Mikro: Loan up to IDR 10 million
Placement of
LOW INTEREST
Funds at Bank Himbara
IDR30 Trillion Government
No.
11/POJK.03/2020 &
.
14/POJK.05/2020
Interest subsidy will be 19% consist of additional interest subsidy 6% and
regular interest subsidy 13%, debtors pays 0% interest from Aug - Dec
2020.
KUR MKM (SMEs):
Asset
Quality
Arrangement:
Loans < IDR
•
10
Loan up to IDR 10 million up to IDR 500 million
Postponement of installments and 6% additional interest subsidy for the
period from Apr-Dec 2020 to 0%.
KUR MSME Credit, non-KUR:
Loan > IDR 500 million up to IDR 10 billion
GUARANTEE
Government support in the form of guarantees
by Askrindo and Jamkrindo
OTHER SUPPORT
4
billion can be based
only on the accuracy
of principal interest
payments
Restructurisation:
The credit quality for
affected debtors is
determined to be
current
restructuring
since
The restructuring is
carried out without a
ceiling limit / type of
financing
•
Postponement of installments and interest subsidies 3% for the first 3
months and 2% for the next 3 months
5
UMi, Mekaar, Pegadaian (Pawnshop)
Postponement of principal installments and interest subsidies for 6
months from Apr-Sep 2020
•
Fintech Loan, Co-op, Farmers, LPDB, LPMUKP, UMKM PEMDA
Relaxation is given a 6% interest subsidy for 6 months
Based on Coordination Meeting held by Financing Policy Committee for
MSME on December 28, 2020, KUR implementation in 2021 are as
follows:
Additional interest subsidy 3% for 6 months, debtors pays 3% interest.
Increase the ceiling of KUR in 2021 to IDR 253 trillion.
Source: Coordinating Ministry for Economic Affairs
Income Tax for MSMEs is borne by
Government
MSMEs receive a final PPh rate of 0.5% (PP
23/2018) borne by the government (DTP).
6
MICRO BUSINESS PRODUCTIVE
PRESIDENT ASSISTANCE
Direct assistance to 13 million
Micro
Enterprises and 1 million street vendors in the
amount of IDR 1.2 million per recipient
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