Indonesia's US$35bn gamble on a new capital

  • Indonesia is shifting its capital to Nusantara. The project is estimated to cost over US$35bn

  • The government has committed 20% funding. Weak response to calls for foreign investment due to 2024 election uncertainty

  • In the near term, the associated fiscal strain of moving the capital on the budget should be manageable
September 1st, 2023
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