President Joko “Jokowi” Widodo plans to boost foreign investment to support the virus-battered economy in the third quarter as the government’s stimulus spending remains slow and household spending weak. Jokowi has instructed Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan to bolster investment in the third quarter this year, saying this, aside from boosting household spending, would be the key to economic growth. “That could be the only key [to support the economy], as boosting exports is hard […] while domestic consumption is stuck,” Jokowi said on Monday during a Cabinet meeting. “There must be other things we can do, [including] boosting investment in the third quarter to revive the economy.” Investment Coordinating Board (BKPM) chief Bahlil Lahadalia had projected Rp 213 trillion (US$14.43 billion) in i…
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