Indonesia seeks to raise defense budget to help defense companies
Joko said that Indonesian government would raise the allocation for defense and security to at least 250 trillion rupiah ($18.717 billion), or 1.5 percent of the country's GDP, in three years.
The president added that the hike could be achieved if the country's economy, which is the largest in Southeast Asia, increased 6 percent.
"Going forward, professionalized armed forces must be boosted by the development of weaponry," Joko said.
Indonesia's economy picked up to 5.04 percent at the final quarter of last year from 4.79 percent at the previous three months ended September amid the country's massive efforts to boost investment climate. ■