Jakarta, Nov. 3 -- Indonesia's Finance Minister Purbaya Yudhi Sadewa has assured that the development of the new capital Nusantara (IKN) will continue as planned and will not turn into a "ghost city."

"It depends on the government's future plans. In my view, IKN will not become a ghost city. If Indonesia's economy performs well, government funds will be sufficient. So, there is no need to worry or heed predictions from foreign media," Purbaya said on Monday.

He added that the government has approved private companies to build housing in IKN and that construction is already underway.

"What is clear is that we have approved private companies to build houses there. Construction should have already started. Later, if needed, we will alloca...