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Indonesian president calls for more budget spending to spur growth

Xinhua, April 29, 2015 Adjust font size:

Indonesian President Joko Widodo on Wednesday asked authorities at provincial level to accelerate spending of development budget in a bid to boost economic growth as the government aims to add more funds for infrastructure to the provinces.

President Jokowi, the popular nick name of the president, aims at achieving over 7 percent GDP growth at his five year term end in 2019 from 5.02 percent in 2014 as he frees up more budget for infrastructure in part by trimming gasoline subsidies.

"I ask the speed of absorption of the budget is fully hiked, because it will expand economy in our country," President Widodo told governors, mayors and head of districts at Bidakara building.

With the acceleration, the president expected the people purchasing power would be boosted.

President Widodo, who came into office on Oct. 20 last year, has successfully lured foreign investors as Foreign Direct Investment climbs faster by 14 percent to 82.1 trillion rupiah ( some 6.32 billion U.S. dollars) in the first quarter, faster than that at the previous quarter of 10.5 percent.

"Recently I talked with businessmen. Though our economy had expanded slower in January and February (but) it has started to accelerate faster at mid of April," said Widodo.

The president has undertaken efforts to boost investment climate, cutting red tape, simplifying process of investment licensing, combating graft and carrying out others reform movements. Endi