The Business Times
business-time-50
Asean Business logo
SPONSORED BYUOB logo

Election-related spending in Indonesia fuels country’s economic growth

google-preferred-sourceAdd BT as a preferred source
Elisa Valenta

Elisa Valenta

Published Wed, Jan 17, 2024 · 05:00 AM
    • Posters of the three pairs of presidential and vice-presidential candidates up along Indonesia's roads ahead of the Feb 14 general election.
    • Posters of the three pairs of presidential and vice-presidential candidates up along Indonesia's roads ahead of the Feb 14 general election. PHOTO: AFP

    [JAKARTA] With campaigning for Indonesia’s upcoming presidential election now in its final weeks, spending by the government and political parties is also in overdrive.

    Local media reports estimate that the government had spent 23.4 trillion rupiah (S$2 billion) as at December 2023, to cover expenses related to the presidential and legislative elections.

    The finance ministry’s records showed that the 2023 Budget set aside 30.4 trillion rupiah for election-related spending, with more funds committed for the 2024 fiscal year.

    IndonesiaGeneral electionsPresidential Electionconsumer confidenceAsean BusinessAsean

    TRENDING NOW

    Singapore’s next chapter should not be framed as a choice between economic growth and social well-being. We need both.

    Singapore at 61: How we can ensure opportunity, security and ownership for the next generation

    Clockwise from top left: The founders of ImmunoQs, AI Seer and DancingMind. All three startups are based at JTC Corp’s LaunchPad @ one-north.

    With tech for fact-checking to cancer care, Singapore startups aim beyond home 

    The Vietnamese economy has long relied heavily on bank lending, straining commercial banks as they shoulder the bulk of the financing needed by companies and large infrastructure projects.

    Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks

    Singapore consistently champions the open, rules-based order and the principle of Asean centrality that underpins regional and global stability.

    Why Asean matters more than ever to the UK and Singapore

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More