KONTAN.CO.ID - JAKARTA. Indonesian President Joko Widodo is still chasing some $150 billion to fund his ambitious nation-building agenda, almost half-way into a five-year infrastructure plan. The government has so far received pledges for just over half the funds needed to help develop the road, airport and railway projects planned in a $327 billion pipeline, latest government figures show. Just $15 billion has come from the state budget, with the bulk committed by private investors, including from China. Widodo, known as Jokowi, needs outside money for his nation-building program after government revenues were battered by the end of the commodities boom and as tax compliance remains poor. With China making a massive push to build infrastructure and new trade routes across Asia through its Belt and Road Initiative, the world’s second-largest economy looms large as an obvious backer for Jokowi’s plans.
Indonesia seeks to plug $157 billion gap in nation-building plan
KONTAN.CO.ID - JAKARTA. Indonesian President Joko Widodo is still chasing some $150 billion to fund his ambitious nation-building agenda, almost half-way into a five-year infrastructure plan. The government has so far received pledges for just over half the funds needed to help develop the road, airport and railway projects planned in a $327 billion pipeline, latest government figures show. Just $15 billion has come from the state budget, with the bulk committed by private investors, including from China. Widodo, known as Jokowi, needs outside money for his nation-building program after government revenues were battered by the end of the commodities boom and as tax compliance remains poor. With China making a massive push to build infrastructure and new trade routes across Asia through its Belt and Road Initiative, the world’s second-largest economy looms large as an obvious backer for Jokowi’s plans.