Drugmakers, Road Builders Seen Big Winners From Jokowi Splurge

Indonesian President Joko Widodo pledged to lift spending to a record next year as he sought to cushion the impact of an intensifying global trade war from further weakening growth in Southeast Asia’s largest economy.

Jokowi, as Widodo is commonly known, set government spending at 2,528.8 trillion rupiah ($178 billion) in 2020, while unveiling a raft of measures to boost consumption and investment. In his annual budget speech to the parliament, the president who will start his second five-year term in October, projected an economic growth rate of 5.3% next year, the highest since 2013.