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Indonesia considers another 500 million USD for new capital megaproject

The Indonesian Finance Ministry is mulling adding around 8 trillion IDR (531 million USD), to this year’s budget plan for Indonesia’s new capital megaproject Nusantara.
Indonesia considers another 500 million USD for new capital megaproject ảnh 1Indonesian Finance Ministry Isa Rachmatarwata (Photo: antaranews.com)

Jakarta (VNA) - The Indonesian Finance Ministry is mulling addingaround 8 trillion IDR (531million USD),to this year’s budget plan for Indonesia’s new capital megaproject Nusantara.

Speaking at a recent press briefing, director-general for budgeting at theFinance Ministry Isa Rachmatarwata said the extra money isbecause President Joko Widodo has asked the ministry to prepare the land for the investors.

Earlier, thegovernment has allotted 23 trillion IDR in the original 2023 budget plan forthe Nusantara project.

According toIsa, the Public Housing Ministry has asked for an extra 7 trillion IDR  or 8 trillion IDR for the budget plan. However, there is still apossibility that the Finance Ministry might add even more money to cover otherneeds for the city’s construction.

In earlyMarch, President Joko Widodo approveda new regulation that offers incentives to businesses investing in Indonesia'splanned new capital, Nusantara, including tax holidays of up to 30 years and 95years of land use permits./.

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