JAKARTA, July 16 (Xinhua) -- The Indonesian government has lowered the interest rate on microbusiness loans from 22 percent to 8 percent to improve access to financing for micro-, small- and medium-sized enterprises (MSMEs), Finance Minister Purbaya Yudhi Sadewa said Thursday.
Purbaya said the measure was expected to strengthen the country's economic resilience amid global uncertainty and volatile market sentiment.
"The interest rate cut reflects the government's commitment to sustaining the growth of MSMEs as one of the main pillars of the national economy," he said.
The government expects the continued development of MSMEs to help support the stability of the rupiah by strengthening investor confidence in Indonesia's economic outlook.
The policy is also expected to stimulate economic activity, help maintain social stability and enhance Indonesia's attractiveness as a long-term investment destination. ■
