JAKARTA, July 25 (Xinhua) -- The Indonesian government needs to double spending on infrastructure to 500 billion U.S. dollars in five years, a top official of the world bank said here 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 state-owned 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 years term, a rise over the 5.02 percent growth last year.
So far, Widodo's administration has struggled to allocated more funds to infrastructure development, including slashing some important spending and hunting more taxes from tax avoidance persons.
Still, the country's law limits the deficit of the state development budget to 3 percent of the GDP. Enditem
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