Indonesia announces FIVE-DAY weekend

2023-06-22

Indonesia announces FIVE-DAY weekend to encourage people to go out and spend money

President Joko Widodo said extra holiday days aimed at boosting the economy

Indonesia has announced a five-day weekend to encourage people to go out and spend money.

The Indonesian government said its decision to create more days of leave was aimed at boosting the economy with tourism and travel.

President Joko Widodo declared Wednesday and Friday next week as holiday, while Indonesians will also enjoy a day off on Thursday to celebrate the Eid al-Adha festival.

This means that the public will be able to enjoy a five-day weekend next week.

The extra days of holiday apply to all civil servants while private companies are likely to follow suit, reports Bloomberg. The country’s stock exchange will also be shut for the days of leave.

President Joko Widodo declared Wednesday and Friday next week as holiday, while Indonesians will also enjoy a day off on Thursday to celebrate the Eid al-Adha festival. Pictured: Ari, a nine-year-old boy, plays with a kite at a market ahead of the Eid-al-Adha holiday

‘The holiday break should encourage the economy, especially in the regions and local tourism areas, to be better,’ Widodo said on Wednesday. ‘Because we saw that it could be extended, that was what we decided.’

Widodo is no stranger to adopting unusual tactics to boost the economy by encouraging Indonesians to spend money.

In February, Widodo urged Indonesians to save less money and spend more on shopping, concerts and sporting events in order to boost economic growth.

He revealed there is roughly 690 trillion rupiah (£39.5 billion) sitting in savings accounts because Indonesians had ‘hit the breaks’ on spending in 2022 following the pandemic.

Widodo had earlier ordered the local authorities to approve permits for concerts and sports events once the government lifted its Covid-19 curbs in order to boost spending.

Widodo (pictured) is no stranger to adopting unusual tactics to boost the economy by encouraging Indonesians to spend money

But Indonesia’s economy has continued to struggle post-pandemic due to high prices and slow job creation. In May, it was revealed that Indonesia’s annual economic growth likely slowed to its weakest in more than a year in January – March.

The economy also shrank on a quarterly basis as lower commodity prices hit experts and higher interest rates restricted domestic demand.

‘As the commodity boom recedes, growth moderates and support for Indonesia’s external and fiscal positions also diminishes,’ wrote Krystal Tan, economist at ANZ, at the time.

‘It will be challenging for Indonesia to defy the global growth slowdown, but resilient domestic demand will help offer some buffer.’

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