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Jakarta Post

Regional budgets key to economic growth

  • Aditya Suharmoko

    The Jakarta Post

Jakarta   /   Thu, February 19 2009   /  02:11 pm

With Indonesia's economy slowing due to the global financial crisis, the regions are being urged to speed up the drafting of regional budgets to prevent even lower growth, according to senior ministry officials. The government expects regions to accelerate government-led infrastructure projects to stimulate the economy and mitigate the impact of the global economic slowdown, aiming for full-year growth of between 4 percent and 5 percent. Finance Ministry's director general of financial balance Mardiasmo said Wednesday up to 100 provincial and local government units - out of 510 units in total - had yet to submit their budgets to the ministry. He expected the remaining 100 units to submit their budget at the latest towards the end of February. The sooner these regions finish drafting their budgets, the better the economy could cope with the financial crisis, ...