In­done­sia urged to dou­ble spend­ing

China Daily (Hong Kong) - - BUSINESS -

The In­done­sian gov­ern­ment needs to dou­ble spend­ing on in­fra­struc­ture to $500 bil­lion in five years, a top of­fi­cial of the world bank said on Tues­day. World Bank Group Pres­i­dent Jim Yong Kim said South­east Asia’s big­gest econ­omy needs to give more op­por­tu­ni­ties to pri­vate sec­tor to par­tic­i­pate in de­vel­op­ment of the strate­gic fa­cil­i­ties. “The World Bank will be less in­ter­ested in in­vest­ment in projects where there are only the sta­te­owned en­ter­prises,” he said. In­done­sian Pres­i­dent Joko Wi­dodo, who came to of­fice in Oc­to­ber 2014, has been at­tempt­ing to build a mas­sive in­fra­struc­ture fa­cil­ity to cre­ate more job and eco­nomic ef­fi­ciency as he aims to pur­sue a over 7 per­cent GDP growth at the end of his five-year-term, a rise over the 5.02 per­cent growth last year.

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