Threat Of Resession 2023, Ridwan Kamil Calls Indonesia Must Learn From Sri Lanka

West Java Governor Ridwan Kamil. (Photo: Mery Handayani/VOI)

JAKARTA - The world economy is predicted to fall into a recession next year, including Indonesia.

This is because the benchmark interest rate of the central bank in a number of countries is getting higher. This policy will hamper the pace of economic growth, so the threat of a recession is difficult to avoid.

Responding to this, the Governor of West Java, Ridwan Kamil said, countries that are predicted to go bankrupt will face problems with the country's economic growth in 2023.

In fact, he continued, the country's inflation rate could reach double digits.

"Countries that will go bankrupt, recession, are predicted to have problems next year, there will be less than five percent growth. The inflation is double digits and even tens (80) percent like Turkey. That's why I pray, God willing, we will find a solution for Mrs. Sri's warning regarding the recession. Including the cost of energy as a component, approximately that," said Ridwan Kamil at the Gathering of SKK Migas, in Bandung, Monday, October 3.

Emil, Ridwan Kamil's nickname, said that there are several solutions to deal with the threat of an economic recession next year. One of them is changing the lifestyle.

"One solution is to adapt from a lifestyle in a comfort zone to starting to think about something that is on average uncomfortable," he said.

Second, continued Emil, trade with himself. This means that Indonesia must not rely on exports and imports to survive the threat of an economic recession.

Learning from Sri Lanka, said Ridwan, the country has finally entered the abyss of bankruptcy because it is too dependent on exports and imports. So the debt accumulates.

"Secondly, trading with yourself, why? Sri Lanka went bankrupt because it was too dependent on import exports, at a time when the world was rotating like it is currently in a lot of debt," he said.