Re-Allocation of PEN Budget will be Directed to Social Protection Programs

The Government of Indonesia continues to strive so that the budget for the Covid-19 Handling Program and National Economic Recovery (PEN) can be realized fully, according to the stipulated ceiling of Rp 695.2 trillion. For this reason, reallocation will be made from slow absorption program budgets to programs with good absorption. Executive Secretary 1 of the Committee for Handling Covid-19 and National Economic Recovery (PC-PEN Committee) Raden Pardede said that budget reallocation will be directed to social protection programs that have proven to have a good implementation. The program budget was increased by Rp 38.11 trillion to Rp 242.01 trillion, from the previous budget of Rp 203.9 trillion. (Investor Daily)

U.S. high-yield bond sales reached an annual record of $329.8 billion Wednesday as companies reap the benefits of the Federal Reserve’s liquidity-boosting policies and investors grasp for yield. The crush of debt offerings accelerated in April after the U.S. central bank began purchasing some high-yield bonds as part of its efforts to support the corporate credit markets. Since then, issuance has eclipsed the prior annual sales record of $329.6 billion set in 2012, according to data compiled by Bloomberg. (Bloomberg)

Source: Danareksa Sekuritas Debt Research

Photo by Jordan Heath on Unsplash