Growing scepticism over Indonesia's plan to move its capital
Costly task of supporting recovery from Covid-19, keeping energy affordable cited
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Doubts are growing over whether Indonesia will move its administrative capital from Jakarta to East Kalimantan, as the government faces the costly tasks of supporting the country's recovery from the downturn caused by the Covid-19 pandemic and keeping energy prices affordable at home.
The project is estimated to cost 467 trillion rupiah (S$44.2 billion). About 80 per cent of the financing will come from private and third-party investors.
