Budget cut confusion casts cloud over development of Indonesia's new capital city

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Eco-Business 16h ago

Budget cut confusion casts cloud over development of Indonesia's new capital city - Eco-Business

Quick Summary:

A lack of budget for building Nusantara this year has cast further doubt over Asia's biggest development project.

A project conceived under the leadership of previous president Joko Widodo, IKN has been promoted to the world as a “smart forest city” equipped with cutting-edge technology and built with sustainable and inclusive principles.

Though the new capital concept is publicly backed by Prabowo, who has said he wants the new city to be Indonesia’s political capital by 2028, the project has faced financing issues from the beginning.