JAKARTA - Minister of Cooperatives and SMEs Teten Masduki said absorption of bank credit for micro, small and medium enterprises (MSMEs) reached Rp1.024 trillion as of May. This figure is equivalent to 20 percent of the prepared budget ceiling, which is Rp. 5.576 trillion.
Teten said that this credit achievement indicates that credit disbursement has approached normal conditions before the COVID-19 pandemic. an independent research survey conducted by the Ministry of Cooperatives and SMEs in the second quarter of 2021 also showed an improvement, where 85 percent of MSMEs stated that it was normal in this quarter. "And 22 percent that have stopped operating are back. which is quite significant," he said.
In addition, said Teten, for People's Business Credit (KUR) also experienced improvements in the second quarter of 2021 and has absorbed 58.09 percent of the Rp253 trillion ceiling. Now, 58.09 percent of the Rp253 trillion has been absorbed," he said.
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