The Strategist

Indonesia to allocate $2.7bn to build new capital city

08/17/2023 - 03:44

It will be called Nusantara.

Indonesia intends to invest $2.7 billion in the building of a new national capital in 2024, according to Reuters with reference to the administration.

The majority of the monies provided are anticipated to be used for housing for government employees and infrastructural improvements. Supporting infrastructure will be finished in 2024," said the finance minister Sri Mulyani Indrawati.

Basuki Hadimuljono, the minister of public works and housing, stated that construction of housing for roughly 16,000 government employees, members of the armed forces, and police personnel is expected to start in September: "The plaza for the flag-raising ceremony will be completed by July next year, and the four offices of the Coordinating Ministry and the Presidential Palace will be finished next year."

Joko Widodo, the president of Indonesia, has declared plans to relocate the nation's capital from Jakarta in 2019.


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