Deputy Governor of Bank Indonesia (BI) Dody Budi Waluyo said that the Bali Leaders Declaration is proof of the success of Indonesia's G20 Presidency in carrying out Summits (KTT) in Bali.
"There were many notes yesterday, how the dynamics was very high until the final result. No one thought that we would come out with one declaration," said Dody, quoted from Antara, Friday, November 18.
According to him, this declaration is also the success of Indonesia's neutral leadership so that it becomes the capital for the leaders of other countries at the G20 who receive it.
The reason, he continued, is that meetings for engagement groups or meetings of G20 ministers after the conflict in Ukraine cannot produce a single communication, consensus, or declaration.
"These meetings only produce conclusions, marks, or recommendations," said Dody.
From the results of the G20 Summit, he said that inclusive and sustainable economic growth needs to be achieved in the short to medium and long term.
In the short term, he continued, geopolitical conflicts and the COVID-19 pandemic that have an impact on the world economy need to be anticipated, especially by Indonesia.
"According to the G20 Summit records, we are entering 2023 with bad conditions, meaning that there has been fragmentation in terms of trade, economy, finance, and policy, which has a medium and long impact," said Dody.
Potentially staying high inflation and slowing economic growth need to be watched out for in the coming years.
"This of course should be seen as one of the things we have to be aware of. If the economy slows down, interest rates increase, inflation is stable and high, maybe this will be a threat," concluded Dody.
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