Indonesia will channel $20 billion in budget savings to its newly created Danantara investment body to help finance 20 high-impact national projects, President Prabowo Subianto said Monday.
Indonesia is establishing a new investment agency, Danantara, to manage $20 billion in budget savings aimed at boosting economic growth. The agency, led by Investment Minister Rosan Perkasa Roeslani, will oversee state-owned enterprises and focus on high-impact projects in sectors like minerals, renewable energy, and technology. President Prabowo Subianto views Danantara as crucial for achieving 8% economic growth, despite challenges such as low consumption and foreign investment. The agency will operate under the president's direct oversight, with a 1% "golden share" retained by the government.
