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Jokowi Leans on China, Central Bank to Revive Indonesia GDP

  • President still confident of 7% growth target by end of term
  • Government wants interest rate to `fall, fall, fall, fall'
Bloomberg business news

We Want Bank Rates to Fall: Jokowi

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Indonesia President Joko Widodo is confident that more Chinese infrastructure loans and lower borrowing costs can help him reach a 7 percent growth target, rebuffing critics who doubt his ability to revive Southeast Asia’s biggest economy.

The country is relying on investors and state-owned companies to fund 70 percent of its infrastructure needs, and wants a third of that from the China-led Asian Infrastructure Investment Bank, the president, known as Jokowi, said in an interview. The government is aiming for 5.3 percent economic growth this year, well short of the goal set by Jokowi upon taking office in 2014.