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.
A corner of Jakarta capital (Source: The Jakarta Post)
Jakarta (VNA) – 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.
The leader has instructed Coordinating Maritime Affairs and Investment Minister
Luhut Pandjaitan to bolster investment in the third quarter this year, saying
this would be the key to economic growth.
Indonesia’s
economy dropped by 5.32 percent in the second quarter of 2020 compared to the
same period last year.
Household spending, which makes up over 50 percent of the local GDP, declined by 5.51 percent year-on-year, while investment reduced by 8.61 percent./.
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