Indonesia spends 2.69 billion USD for development of new capital Nusantara
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.
President Joko "Jokowi" Widodo and his successor Prabowo Subianto check on the progress of the new capital project Nusantara on Aug. 12, 2024. (Photo Courtesy of Indonesia's Presidential Press Bureau)
Jakarta (VNA) - 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.
Deputy Finance Minister Suahasil Nazara said the sum was directed towards key infrastructure projects, including the construction of buildings in the State Palace area, ministry offices, the Nusantara Authority building, as well as housing for civil servants, hospitals, and transportation facilities like toll roads, bridges, and airports.
Additionally, the budget supported the development of the Sepaku Semoi reservoir area and flood control measures around Nusantara.
Suahasil highlighted the positive impact of the development on East Kalimantan's economic growth, making it the fastest-growing province in Indonesia.
He said Kalimantan's economy grew by 4.5% in 2022, 6.2% in 2023, and remained at 6.2% in the third quarter of 2024, despite pressures on commodity prices like coal and palm oil.
The open unemployment rate in East Kalimantan also dropped to 5.14% in 2024, with 129,000 new jobs created, bringing the total workforce to 1.98 million.
😼 From 2022 to 2024, a total of 75.8 trillion IDR has been allocated for Nusantara's development, with 5.5 trillion IDR in 2022, 27 trillion IDR in 2023, and 43.4 trillion IDR in 2024. This progress has had a significant positive impact on the economic development of both East Kalimantan and broader Kalimantan./.
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.
Indonesian President Joko Widodo recently signed Decree No. 25/2024 establishing a task force to promote foreign investment attraction in the the Nusantara Capital City (IKN).
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