JAKARTA, May 25 — Indonesia will require around 8,600 trillion rupiah (about 486 billion U.S. dollars) in financing in 2027 to support its economic growth target of up to 7.5 percent, the Financial Services Authority (OJK) said on Monday.
Friderica Widyasari Dewi, chairperson of the Board of Commissioners of OJK, said the estimate is based on calculations by the National Development Planning Ministry, or Bappenas, to support economic growth in the range of 5.9 percent to 7.5 percent next year.
“Bappenas said Indonesia needs a fairly large amount of financing to support economic growth, around 8,600 trillion rupiah,” Dewi said during the National Conference on Regional Economic Development in Jakarta.
She said the financing needs could not rely solely on the state budget, the banking sector or the capital market, stressing the importance of developing alternative financing sources.
The government is encouraging broader participation from various financial sectors to help meet development funding needs, she added.
Dewi said the OJK will continue to strengthen the financial sector ecosystem and expand access to innovative financing instruments to support sustainable economic growth.
Indonesia has set higher growth targets under President Prabowo Subianto’s administration as part of efforts to accelerate national development and investment. (Namibia Daily News / Xinhua)
