Indonesia’s Widodo sets 7% economic growth target

Reading Time: 2 minutes

JakartaIndonesia’s president-elect Joko Widodo has set a 7 per cent economic growth target for 2014 to 2019, according to Akbar Faizal of the Jokowi-JK Transitional Office.

“To achieve the target, we need infrastructure investment worth at least $552 billion,” Indonesia’s Antara news agency reported on August 22, citing Faizal.

He explained that 25 per cent of the money needed for the infrastructure investment would be funded by the state budget. The remaining 75 per cent must be collected from other parties, such as state-owned enterprises and private companies.

Indonesia’s economic growth over the past five years has been five per cent, with the budget allocation for infrastructure development hovering at four to five per cent of GDP, Faizal said.

Meanwhile, the growth rate of Indonesia`s infrastructure investment was considered low, compared to India, which has reached 7 per cent of its GDP since 2009, while China was at 9 to 11 per cent in 2005.

The development of infrastructure is vital for Indonesia’s economic growth because it has an effect on all economic activities, he added. Therefore, Widodo and his running mate Jusuf Kalla will take a new approach in the management of the nation`s infrastructure, according to Faizal.

Widodo and Kalla will also work to boost productivity and competitiveness at the national and international levels.

According to Antara the next government will seek to increase electricity by at least 35,000 megawatts, and construct 2,000 kilometers of new roads. It will also build or renovate 10 seaports and airports, 10 new industrial zones and housing complexes for workers, build 5,000 traditional markets, and modernise old markets.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 2 minutes

Indonesia’s president-elect Joko Widodo has set a 7 per cent economic growth target for 2014 to 2019, according to Akbar Faizal of the Jokowi-JK Transitional Office.

Reading Time: 2 minutes

JakartaIndonesia’s president-elect Joko Widodo has set a 7 per cent economic growth target for 2014 to 2019, according to Akbar Faizal of the Jokowi-JK Transitional Office.

“To achieve the target, we need infrastructure investment worth at least $552 billion,” Indonesia’s Antara news agency reported on August 22, citing Faizal.

He explained that 25 per cent of the money needed for the infrastructure investment would be funded by the state budget. The remaining 75 per cent must be collected from other parties, such as state-owned enterprises and private companies.

Indonesia’s economic growth over the past five years has been five per cent, with the budget allocation for infrastructure development hovering at four to five per cent of GDP, Faizal said.

Meanwhile, the growth rate of Indonesia`s infrastructure investment was considered low, compared to India, which has reached 7 per cent of its GDP since 2009, while China was at 9 to 11 per cent in 2005.

The development of infrastructure is vital for Indonesia’s economic growth because it has an effect on all economic activities, he added. Therefore, Widodo and his running mate Jusuf Kalla will take a new approach in the management of the nation`s infrastructure, according to Faizal.

Widodo and Kalla will also work to boost productivity and competitiveness at the national and international levels.

According to Antara the next government will seek to increase electricity by at least 35,000 megawatts, and construct 2,000 kilometers of new roads. It will also build or renovate 10 seaports and airports, 10 new industrial zones and housing complexes for workers, build 5,000 traditional markets, and modernise old markets.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid