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Capital outflows affect developing countries efforts to achieve SDGs: VP
Kalla says the condition will not only negatively affect economic growth but also long-term agendas.
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Vice President Jusuf Kalla (JP/Seto Wardhana)
V
ice President Jusuf Kalla has stressed the importance of partnership to achieve the Sustainable Development Goals (SDGs) – a global movement to address poverty, protect the environment and establish peace and prosperity.
Speaking at the Economic and Social Council (ECOSOC) Summit at the United Nations building in New York on Monday, Kalla said developing countries faced financial shortages in implementing their SDG agendas.
He underlined the serious challenge faced by developing countries on account of capital outflow that had caused currency depreciation, negatively affecting efforts to maintain economic growth.
“This condition will not only negatively affect economic growth but will also affect long- term agendas,” said Kalla, adding that the trend would enlarge the financial gap.
He said Indonesia was working to diversify its financial resources to finance its US$460 billion worth of infrastructure projects from 2015 to 2019 because the projects could not rely only on state funds.
Therefore, he added, that the government had introduce a number of policies to create a conducive investment climate to ensure the planned projects could be carried out.
Among the policies include improvement of monetary and fiscal policies, the introduction of new regulations to guarantee the security of funds invested in infrastructure projects in many parts of the country, the improvement of ease of doing business and the acceleration of development in remote areas to reduce wealth distribution disparity. (bbn)
