Airlangga's Subordinates Express The Rules For Extending KUR Restructuring To Be Issued Next Week

JAKARTA Secretary of the Coordinating Ministry for Economic Affairs Susiwijono Moegiarso said that the Regulation of the Coordinating Minister for Economic Affairs (Permenko) regarding the extension of credit restructuring specifically for the People's Business Credit (KUR) segment will be completed next week.

"Next week it will be finished, if that's the Permenko," he told the media crew, Friday, August 9.

On the same occasion, Deputy for Macroeconomics and Finance of the Coordinating Ministry for the Economy Ferry Irawan explained that a meeting of the Financing Policy Committee for Micro, Small and Medium Enterprises had been held.

"IT'S THE RAKOMJAK," he said.

Meanwhile, Ferry added that his party is currently preparing Permenko to extend the credit restructuring specifically for the KUR segment.

"Now we are preparing the Permenko," he explained.

Ferry added that after the mandate of making the Permenko is complete, it will then be forwarded to the Ministry of Law & Human Rights (Kemenkumham) for harmonization.

"We are preparing the Permenko. Then (the Permenko) will be increased, later we will go directly to the Ministry of Law and Human Rights for harmonization," concluded Ferry.

Previously, Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar said that his party was waiting for a decree (SK) from the Coordinating Ministry for Economic Affairs to implement a special restructuring credit extension for the People's Business Credit (KUR) segment.

"We are ready and we just have to implement it later. Instead, what we are waiting for can be applied to the Coordinating Ministry's Decree," he said after the Press Conference on the Results of the KSSK III Periodic Meeting in 2024, Friday, August 02.

When asked about the appropriate criteria for obtaining the KUR credit restructuring, Mahendra explained that it was a decision from the government.

"It is better for the Coordinating Minister (Airlangga) to convey the details, what was conveyed in his operations has also been coordinated with the Coordinating Minister for Discussion with the banking community, essentially ready to be operated as soon as possible," he explained.

Mahendra said the restructuring was given to KUR debtors who still have business prospects.

"It was carried out to encourage the performance of national MSMEs as stated by the Coordinating Minister for the Economy at the KUR Steering Committee Meeting last July," he said.

Based on the Indonesian Banking Surveillance report in the first quarter of 2024. Regarding MSME loans in the People's Business Credit (KUR) program, according to data from the Coordinating Ministry for the Economy, the realization of KUR distribution during 2024 to 31 March 2024 was recorded at IDR 70.66 trillion or 23.55 percent of the 2024 target of IDR 300 trillion and given to 1.21 million debtors.

Meanwhile, KUR is distributed by Banks and Non-Banks. Based on its type, most KURs are distributed to Micro KURs of IDR 47.42 trillion (67.12 percent), followed by Small KUR of IDR 22.85 trillion (32.34 percent), Super Micro KUR of IDR 381.81 billion (0.54 percent), and KUR of Indonesian Migrant Workers (PMI) of IDR 5.59 billion (0.01 percent).