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COVID-19: Indonesia boosts foreign investment attraction to revive economy

Indonesian President Joko Widodo plans to boost foreign investment to support the virus-battered economy as the government’s stimulus spending remains slow and household spending weak.
COVID-19: Indonesia boosts foreign investment attraction to revive economy ảnh 1A corner of Jakarta capital (Source: The Jakarta Post)


Jakarta (VNA) – Indonesian President Joko Widodo plans to boost foreigninvestment to support the virus-battered economy as the government’s stimulusspending remains slow and household spending weak.

The leader has instructed Coordinating Maritime Affairs and Investment MinisterLuhut Pandjaitan to bolster investment in the third quarter this year, sayingthis would be the key to economic growth.

Indonesia’seconomy dropped by 5.32 percent in the second quarter of 2020 compared to thesame period last year.

Household spending, which makes up over 50 percent ofthe local GDP, declined by 5.51 percent year-on-year, while investment reducedby 8.61 percent./.

VNA
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