What’s covered by the latest state budget revisionThe new budget aims to strengthen the health care system, direct more spending toward social protection to boost consumption and provide incentives to rescue Indonesian businesses from bankruptcy and workers from layoffs.The government will spend Rp 87.55 trillion in the health care sector, Rp 203.9 trillion to strengthen social safety net programs and Rp 123.46 trillion to provide incentives for micro, small and medium businesses, according to the new budget.About Rp 120.6 trillion will be allocated for tax incentives for larger entities, and Rp 97.11 trillion has been designated to support ministries and regional administrations. Rp 44.57 trillion will be used to provide a stimulus for state-owned enterprises (SOEs) and labor-intensive businesses. Stimulus too small to handle economic fallout: ObserversEconomists and businesspeople have long agreed that the government will need a much bigger stimulus to counter the economic impact of the virus.Center of Reform on Economics (CORE) Indonesia research director Piter Abdullah said the government’s stimulus was “far from ideal” to counter the virus’ blow.“The country needs bigger health care budget to manage the outbreak […] If we are not ready, then there is a possibility of a second wave of the virus crisis,” Piter said in a statement. “Meanwhile, the proposed budget for social protection is too small amid the threat of rising poverty.”The government estimates that 1.8 million to 4.8 million people may fall into poverty this year, while 3 to 5.2 million may lose their jobs because of the severe economic impact of the pandemic.Meanwhile, the Indonesian Chamber of Commerce and Industry (Kadin) called on the government last month to boost its budget to fight the pandemic.According to Kadin chairwoman Shinta Kamdani, the government will need Rp 400 trillion for health care, Rp 600 trillion for social safety net programs and Rp 600 trillion for economic recovery.“Demand for stimulus is increasing even after the latest package,” Bank Danamon economist Wisnu Wardana said. “The government must now focus its resources on making the spending more productive and cutting unnecessary spending.”Meanwhile, World Bank senior economist Ralph van Doorn has called on the government to take steps to maintain market confidence as debt mounts during the outbreak.“The government must [provide assurances about its] fiscal strategy to raise revenue back to at least the 2018 level to flatten the debt curve,” said van Doorn.It should unwind “exceptional measures” taken to battle the pandemic after the virus subsides, including by reinstating the deficit ceiling of 3 percent of GDP and ending Bank Indonesia’s partial financing of the deficit, he added.Indonesia’s debt-to-GDP ratio will rise to 37 percent this year from 29.8 percent at the end of last year, van Doorn predicted.Indonesia’s economic futureThe government remains hopeful that the economy will not shrink sharply in the second quarter and will begin to recover in the subsequent quarters, said Finance Ministry Fiscal Policy Agency head Febrio Kacaribu on Thursday.“There is a possibility of a severe economic crisis and recession. We are currently revising the state budget to ensure that negative growth does not happen,” Febrio told reporters.Indonesia’s economy grew 2.97 percent in the first quarter, the weakest since 2001, as household spending and investment growth slowed in response to the outbreak.The World Bank now expects zero percent growth for Indonesia if large-scale social restrictions (PSBB) last for two months amid a severe global economic slowdown and falling commodity prices. Under the organization’s worst-case scenario, which allows for four months of PSBB, Indonesia’s economy may shrink 3.5 percent.Topics : Indonesia’s 2020 budget deficit will widen further to accommodate a larger stimulus package announced on June 3, but economists and business representatives say it will still not be enough to prevent the economic consequences of the COVID-19 crisis.Finance Minister Sri Mulyani Indrawati said she expected the budget deficit to swell to 6.34 percent of gross domestic product (GDP), an increase from earlier estimates of 6.27 percent in May and 5.01 percent at the end of March.The state budget to fight COVID-19 is now Rp 677.2 trillion (US$48 billion), higher than the Rp 641.17 trillion allocation in May and the Rp 405.1 trillion initial allocation. This was the third alteration to the state budget in just over two months. The rapid changes underscore the ferocity with which the virus has torn through the economy.“We are hoping that this stimulus will keep our economic growth above zero percent,” Sri Mulyani said during the latest budget announcement on June 3. The government expects Indonesia’s GDP to grow by 2.3 percent this year under the baseline scenario or contract by 0.4 percent under the worst-case scenario.The government now expects the total state budget in 2020 to be 2.74 quadrillion. State revenue is expected to be Rp 1.69 quadrillion, leaving a budget deficit of about Rp 1.05 quadrillion. Debt financing is expected to swell to Rp 1.22 quadrillion this year to cover the widening budget deficit and to pay for the government’s investments, which will be covered mostly by the issuance of bonds.“We will treat the widening budget deficit carefully in terms of sustainability and financing,” Sri Mulyani added.
Friends may visit with the family on Sunday, November 5, 2017 from 12:30 p.m. until time of service at 3 p.m. at Cook Rosenberger Funeral Home, 107 Vine Street, Sunman. Pastor William Helms will officiate the service and burial will follow in St. Paul Cemetery. Arldean LaVon Harmon, of Sunman was born on March 22, 1936, Sunman, the daughter of John and Sadie LaVon Kramer Schwing. She married Donald Harmon on May 25, 1954, at St. Paul Methodist Church. Arldean loved her family and being a homemaker. She also was active in her community, volunteering and cooking for others, and was a member of the Sunman Community Church. On Thursday, November 2, 2017, at the age of 81, she passed away at Margaret Mary Health in Batesville. Those surviving who will cherish Arldean’s memory include her son, Mark (Debbie) Harmon, of Sunman; daughter, DeAnn Harmon, also of Sunman; three grandchildren, Shannon (Cordell) Feuston, Kendra (Scotty) Rienschield, and Nathan (Laura) Sefton, and 6 great-grandchildren. Besides her parents, she was preceded in death by the love of her life – husband, Donald on August 4, 2015; 3 brothers, Dale, David and Donald Schwing, and 1 sister, Athea Nicely. Memorial donations can be directed to the Sunman Community Church or to the Sunman Life Squad. To sign the online guestbook or to leave a personal condolence please visit www.cookrosenberger.com. The staff of Cook Rosenberger Funeral Home is honored to care for the family of Arldean Harmon.
If Dare Ogunbowale gets his way, there will be no music blaring over the speakers this week at the University of Wisconsin football team’s practices in advance of UW’s game at Northwestern this Saturday.The fifth-year senior running back is not trying to take the fun out of practice. Rather, the Badger captain is looking for ways to make sure No. 8 Wisconsin (6-2, 3-2 Big Ten) is ready for the different atmosphere at Ryan Field, the home of the Wildcats (4-4, 3-2).Football: Wisconsin survives Halloween scare from Nebraska in 23-17 overtime winThe last two times Nebraska visited Camp Randall Stadium, the University of Wisconsin football team imposed its will in the Read…“It’s kind of a dry type of field for a college football game,” Ogunbowale said.Ryan Field is “dry” in the sense it may not be as loud as another stadium. It only seats about 47,000 fans, a considerably smaller stadium than other capacities throughout the Big Ten. Therefore, Ogunbowale said, the absence of music during practice this week may help the UW offense find ways to create their own juice to make sure they are hyped to play come Saturday, regardless of the atmosphere.“Offensively, we got to start learning how to have our own energy,” Ogunbowale said. “When you’re playing at Camp Randall, we don’t have to worry about that because we have such a good atmosphere with the fans bringing energy for us.”Ogunbowale said the Wisconsin defense does a great job of generating its own energy because of guys like fifth-year senior outside linebacker Vince Biegel, who said the absence of music this week is a good idea.“Northwestern’s stadium poses different challenges that we’ve seen up to this point,” Biegel said. “It’s a little more of a quiet stadium. The crowd isn’t as much of a factor as we’ve seen previously.”Especially coming off the high of a prime-time win over then-No. 7 Nebraska in front of an electric home crowd. With the transition to the more laid back Ryan Field, it will be necessary to create the energy instead of feeding off of it, redshirt junior tight end Troy Fumagalli said.What Wisconsin doesn’t want is a repeat of 2014, when it stumbled to a 20-14 loss during an 11 a.m. kickoff under overcast skies and a half-full stadium.“We turned the ball over more than we should,” Fumagalli said. “It was a typical Northwestern game at 11 a.m. We came out in a sleep. What’s good is it’s in a lot of our minds.”Wisconsin has not won at Northwestern since 1999. UW head coach Paul Chryst was part of several of those losses as an assistant, but this will be his first time going to Evanston at the helm.Each of those losses, Chryst said, have come because of what has happened between the lines on the field and not in the stands.“Every stadium is different, and I think that’s what’s kind of cool about going on the road,” Chryst said. “It’s another experience, and no one place is like the other.”Rankings hold little importanceThe Badgers rose to No. 8 in both the coaches and the Associated Press poll this week after defeating Nebraska, but on Tuesday, the College Football Playoff Committee will release its first set of rankings.The release of the rankings will be televised by ESPN in an hour-long special beginning at 6 p.m. When asked if he’d be watching, Ogunbowale said he didn’t even know there was a show about the rankings.“I doubt that many guys will watch the show,” Ogunbowale said. “I’ll probably be watching Family Guy.”That mentality derives from that of Chryst’s, who has emphasized to shut out outside noise, such as rankings.“I think they matter to a lot of people, and there’s a lot of potential with it,” Chryst said. “I think for our team, or for any team, what really matters is what you do that week. The discussions don’t help you play the game. You got to play your season out.”Injury reportSophomore nose tackle Olive Sagapolu (right arm) will miss his third consecutive game this week. Chryst said there was no timetable for his return, but that when the injury occurred, the coaching staff knew it would be some time before he’d be back.The following players are questionable for Saturday: T.J. Watt (left shoulder), Austin Ramesh (right shoulder), Natrell Jamerson (left leg), Jacob Maxwell (right shoulder) and Griffin Grady (left shoulder)