Sri Mulyani Reveals Global Economic Conditions In 2024 Lesu, US And China In Debt

JAKARTA - The Financial System Stability Committee (KSSK) estimates that in 2024 global economic growth will still weaken compared to the previous year.

Minister of Finance Sri conveyed the assessment based on the latest projected global economic growth by the World Bank or the Global Economic Prospects.

"The World Bank estimates that the global economy will grow slowly, from 3 percent in 2022 to only 2.6 percent in 2023, and will again weaken 2.4 percent in 2024," Sri Mulyani said at a press conference on the results of the 2024 KSSK I Periodic Meeting in Jakarta, Tuesday 30 January 2024.

In addition to the weakening global economy, Sri Mulyani said that the economic rate between countries that have large economic capacity has experienced differences in growth.

Sri Mulyani gave an example, such as the US economy growing strongly in 2023, but fiscal pressure, especially the debt interest expense and debt ratio, is a major risk.

Meanwhile, European economic conditions are still weakening.

"Likewise, China's economy is still slowing down, due to the property sector crisis. The Hong Kong court has also just announced that Hong Kong's giant property company Evergrande has gone bankrupt," said Sri Mulyani.

In addition, China is also experiencing debt pressure, especially from local governments at the provincial level.

This causes China's economy to still slow down.