Takehiko Nakao, President of the Asian Development Bank (ADB), has spoke highly Indonesia’s efforts in implementing its economic reform.

The decisive reforms implemented early in Indonesian President Widodo’s term have boosted market confidence in the government’s economic programme, he told media in Jakarta on January 16.

The ADB President reckoned that the country’s economy has been developed sustainably through comprehensive reform agenda, including cuts to fuel subsidies, and measures to improve tax collection, accelerate infrastructure development, and improve the investment climate.

With the extra budget funds resulting from fuel subsidy cuts, the government can now allocate more resources for infrastructure, which are needed to revive and diversify sources of economic growth, according to the bank.

It can also expand health, education, and other social assistance programmes to address rising inequality.

Previously, the Indonesian government gave high priority to infrastructure development, which includes the strengthening of maritime connectivity, with a decision to invest about 500 billion USD over the next five years.

The ADB President noted that the bank’s future support for Indonesia will be closely aligned with the country’s national development plan, focusing on delivering better infrastructure, attaining food and energy security, and spurring more inclusive economic growth.-VNA