Indonesia to allocate 2 billion USD to new capital city project
Indonesia will set aside between 27 trillion rupiah and 30 trillion rupiah (1.88-2 billion USD) next year for the development of the country's new capital city, Finance Minister Sri Mulyani Indrawati said.
Indonesia’s Finance Minister Sri Mulyani Indrawati. (Photo: tempo.co)
Jakarta (VNA) – Indonesia will set asidebetween 27 trillion rupiah and 30 trillion rupiah (1.88-2 billion USD) next yearfor the development of the country's new capital city, Finance Minister SriMulyani Indrawati said.
Speaking at a press conference on April 14, theminister said the funds will be spent on basic infrastructure, offices, schoolsand medical facilities, and security-related spending in the new city.
Despitefiscal tightening, Indonesia will allocate between 367 trillion rupiah and 402trillion rupiah for total nationwide infrastructure spending next year.
President Joko Widodo aims to move the capital citybefore the end of his tenure in 2024. Indonesia's parliament approved a bill torelocate the nation's capital from Jakarta to Kalimantan on Borneo last January,creating a legal basis to implement the project.
The new capital will be called"Nusantara", or archipelago in English, which was chosen by the president.
It will serve as the centre of government, while Jakarta,which is home to more than 10 million people, will remain the business andeconomic centre of Indonesia, Southeast Asia's biggest economy./.
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Indonesia’s Finance Minister Sri Mulyani Indrawati. (Photo: tempo.co) 
