balis revenue to increase by rp1.4 trillion: minister

Kuta, Bali, Sept 22 (ANTARA News) – Balis revenue will increase by some Rp1.4 trillion from the annual meeting of the International Monetary Fund (IMF) and World Bank, according to Coordinating Minister for Maritime Affairs Luhut Binsar Panjaitan.

“That is a significant impact and creates around 32,700 jobs. This is a big revenue,” he stated while inaugurating the underpass of the Tugu Ngurah Rai intersection in Kuta, Badung District, Bali Province, on Saturday.

The revenue will be generated from accommodation, food and beverage expenses, and other necessities to support the worlds largest financial and economic meeting.

Panjaitan, who is also chair of the National Committee of the IMF and World Bank Annual Meeting, remarked that a study by the National Development Planning Agency (Bappenas) projecting the conference will boost economic growth in Bali.

Furthermore, based on data from the National Development Planning Agency, he cited that economic growth will grow from 5.9 percent to some 6.54 percent this year.

He remarked that small and medium business players will also develop further, so they will also help boost the economy of the people on the Island of the Gods.

He stated that development of the tourism sector in Bali is expected to be an indicator to reduce the current account deficit, given that over 40 percent of Indonesian tourists visit Bali.

Meanwhile, speaking in connection with the latest information related to the IMF and World Bank meetings, Panjaitan remarked that the latest data estimated over 19 thousand people to be present in Bali.

This number increased as compared to the previous estimate of 15 thousand participants.

“We are getting a little dizzy, as the demand for vehicles is increasing. We have calculated here that there are 3,400 vehicles, but now, the request for small cars is up to four thousand vehicles,” he stated.

The IMF and World Bank annual meetings will take place on October 8-14, 2018, at the Bali Nusa Dua Convention Center Nusa Dua, Badung. Finance ministers, central bank governors, entrepreneurs, and investors to the media from 189 countries are among thousands of participants who have confirmed their participation.

Source: ANTARA News