The World Briefly
June 27, 2023Fun By Fiat
Indonesia
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Indonesian workers will enjoy a five-day weekend at the end of the month after the president ordered additional holidays in an effort to boost travel and consumption in Southeast Asia’s largest economy, Bloomberg reported.
President Joko Widodo declared June 28 and 30 as collective leave days around the Eid al-Adha Muslim holiday on June 29.
The extended break will apply to all civil servants, with companies likely to follow suit by giving their workers time off. The stock exchange will also be closed during those days.
Widodo said that the extra leave days “should encourage the economy, especially in the regions and local tourism areas, to be better.”
The move marks the latest instance that the president has used unusual tactics to increase consumer spending in Indonesia.
During the coronavirus pandemic, he urged Indonesians to shop online. Following the lifting of Covid-19 restrictions, he told local authorities to approve permits for concerts and sports events to encourage people to go out more.
In Indonesia, consumption plays a crucial role in driving economic growth, representing more than 50 percent of the country’s total output. However, the combination of elevated prices and slow job creation in the aftermath of the pandemic has begun to impact spending and retail sales.
This has been more evident in the weaker-than-usual activity observed toward the end of Ramadan, which is typically the busiest holiday period in the nation.
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