Jakarta (ANTARA) - Finance Minister Sri Mulyani Indrawati revealed on Monday that budget realization for the development of the new capital city (IKN) Nusantara in 2024 had reached Rp2.3 trillion (US$146 million) as of February 29 or 5.8 percent of allocated budget.

"This year, we have allocated a budget totaling Rp39.3 trillion (US$2.5 billion) from the APBN (State Budget) for Nusantara, with the realization rate at Rp2.3 trillion, or 5.8 percent from the determined ceiling," she said during a press conference in Jakarta.

She elaborated that a Rp400 billion budget (US$25.4 million) was allocated for infrastructure development, including the state palace zone, ministerial zones, and the building of the Nusantara Capital Authority (OIKN).

The budget was also absorbed for the construction works on towers of state apparatus flats, ministerial tread houses, a toll road, roads and bridges, a VVIP airport, Sepaku Semoi Dam, retention basins in the government core area, flood control systems, and land rehabilitation.

The remaining Rp1.9 trillion (US$120.6 million) was used for the non-infrastructure aspects, including the planning, coordination, and preparation of new capital relocation; promotion and dissemination of information regarding IKN; reports and policy recommendations for ministries and agencies; mapping, monitoring, and evaluation activities; support for security apparatus; and operations of the OIKN.

In total, the government has allocated a budget of Rp71.8 trillion (US$4.6 billion) from the APBN for the development of Indonesia's future seat of government during the 2022–2024 period.

The realization of the budget in 2022 and 2023 stood at Rp5.5 trillion (US$349 million) and Rp27 trillion (US$1.7 billion), respectively.

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Translator: Imamatul S, Tegar Nurfitra
Editor: Anton Santoso
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