JAKARTA - Indonesia planned to raise spending on infrastructure next year to 100 trillion rupiah (some 6.5 billion euro) from this year's 60 trillion rupiah (about 3.9 billion euro) to create jobs and boost economic growth in an effort to cushion the impact of the global financial routs, the finance ministry said here Wednesday. The global economic turmoil is predicted to deepen in 2009, particularly in the first quarter, Indonesian acting Coordinating Minister for Economy Sri Muyani Indrawati said.
The Southeast Asian largest economy is less dependent on exports for growth, and more reliant on food production, domestic transportation and other industries which need better infrastructure. Therefore, the government plans to create new infrastructure projects and to speed up the realization of already planned projects, Indonesian Vice President Jusuf Kalla said.
"We increase spending for next year to 100 trillion rupiah to finance infrastructure projects that quickly need many workers to spur growth," deputy of infrastructure affairs of the ministry Bambang Susantono told. The funds would be obtained from the state budget and overseas loans, the deputy said. But he did not elaborate the split of the fund from the two sources. Recently, Australia has committed to loan 1 billion U.S. dollars to Indonesia.
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JAKARTA - Indonesia planned to raise spending on infrastructure next year to 100 trillion rupiah (some 6.5 billion euro) from this year's 60 trillion rupiah (about 3.9 billion euro) to create jobs and boost economic growth in an effort to cushion the impact of the global financial routs, the finance ministry said here Wednesday. The global economic turmoil is predicted to deepen in 2009, particularly in the first quarter, Indonesian acting Coordinating Minister for Economy Sri Muyani Indrawati said.
