Indonesian President Joko Widodo called for an increase in capital spending to bolster growth as a slowing global economy, the US-China trade war and rising oil prices pose risks to Southeast Asia’s largest economy.
Chairing the second cabinet meeting in two days, Widodo, who is on course for a second five-year term, laid out his budget priorities for next year. The president sought to boost investment and exports to sustain economic growth, while underscoring the importance of continuing the infrastructure drive that was a key plank of his first term and development of human resources as a “top priority.”
Joko Widodo is expected to be confirmed as having won a second five-year term when official results from the 17 April election are announced in the next few weeks. The president led his challenger Prabowo Subianto by about 10 percentage points after about 20 per cent of votes were counted, according to election authorities, mirroring unofficial quick count results announced by private pollsters last week.