Indonesia approves budget for new capital’s next development phase
The Indonesian government has allocated 48.8 trillion IDR (2.99 billion USD) for the second phase of developing Nusantara, Indonesia's new capital, for the 2025-2029 period. This represents a notable decrease from the 89 trillion IDR set aside for the first phase in 2022-2024.
Former Indonesian President Joko Widodo and his successor Prabowo Subianto inspect the progress of the new capital project Nusantara on Aug. 12, 2024. (Photo: Jakarta Globe)
Jakarta, January 23 (VNA) – The Indonesian government has allocated 48.8 trillion IDR (2.99 billion USD) for the second phase of developing Nusantara, Indonesia's new capital, for the 2025-2029 period. This represents a notable decrease from the 89 trillion IDR set aside for the first phase in 2022-2024.
Basuki Hadimuljono, Head of the Nusantara Capital Authority, on January 22 revealed that President Prabowo Subianto aims to make Nusantara the political capital. He added that his responsibility includes completing the judicial and legislative ecosystem infrastructure, such as offices and residences.
A budget of 48.8 trillion IDR is needed primarily to complete the legislative complex, judicial facilities, and supporting ecosystems, as well as to open access to the second planning area of Nusantara, Basuki said as cited by Jakarta Globe.
Additionally, the Nusantara Authority is overseeing a Public-Private Partnership (PPP) programme worth 60.93 trillion IDR, which is currently in progress. This includes six road construction projects, a 138.6-km multi-utility tunnel (MUT) in the Core Government Area, a solar power plant project, and the planned groundbreaking for the ninth phase of investment projects.
Chief Infrastructure and Regional Development Minister Agus Harimurti Yudhoyono said the development focus will be on the core government area, establishing Nusantara as a political capital with completed government facilities, including legislative and judicial institutions.
The cooperation between the government and business entities is expected to enable the private sector to contribute positively and integrate effectively, he added./.
The Indonesian Government spent 43.4 trillion IDR (2.69 billion USD) from the 2024 state budget on the development of the country’s new capital, Nusantara, accounting for 97.3% of the 44.5 trillion IDR ceiling.
Indonesian Minister of Home Affairs Tito Karnavian said Jakarta still holds the capital status despite the enactment of State Capital Law No. 3 of 2022, adding that the capital city will officially be relocated after the president issues a presidential decree.
Indonesian President Joko Widodo has reiterated that his government will pay special attention to domestic players keen on investing in Nusantara Capital City (IKN), East Kalimantan, considering their huge numbers.
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