UGM Economists Hope Business Actors Don't Need To WATCH The Economic Situation In 2023: I Call Them Theram, Not Dark Gulita

Gadjah Mada University (UGM) economist Akhmad Akbar Susamto. (Photo: Doc. Antara)

JAKARTA - Gadjah Mada University (UGM) economist Akhmad Akbar Susamto hopes that business actors will not worry about the Indonesian economic situation in 2023 because it is estimated that it will still grow positively.

"In Indonesia, God willing, economic growth in 2023, according to my calculations, is still 4.5 to 5 percent. It's still quite good, not very good but also not very bad," said Akbar Susamto when giving the material "Recession and the Future of the 2023 Economy" at the Journalist School. Initial Edition in UGM, Yogyakarta, quoted from Antara, Monday 16 January.

With economic growth that continues to grow positively, he said, automatically the economic recession that is often mentioned by a number of officials does not actually occur in Indonesia.

The reason is, a country is called a recession when there is a decrease in economic growth for two consecutive quarters.

Likewise, global scale economic growth, he said, is not even as bad as it is often feared because it is estimated that it will still grow positively at close to 3 percent, except for several countries such as Germany.

According to Akbar, there is no reason to say that the condition of the global economy in 2023 is pitch black.

"I prefer to say the situation will be 'gloomy' (temaram) but it's not pitch black," he said.

The average household consumption rate of 50 percent of gross domestic product (GDP), said Akbar, is still Indonesia's strength, so it is not too affected by the potential for a global recession.

Therefore, Akbar said that business actors in Indonesia, especially those oriented towards the domestic market, do not need to be pessimistic about the pace of the economy this year.

"Perhaps those with export market orientations have other calculations because their main export destination countries, the economy, such as the US and Europe, are not very bad. But if domestic-oriented entrepreneurs, I believe the situation is still good," he said.

Meanwhile, related to the political dynamics ahead of the 2024 General Election, according to him, it will not have much impact on the national economy as long as it runs conducive.

"Please support the presidential and vice presidential candidates during the campaign, it is okay if necessary to share banners, it will actually move the important economy, not just burn them," said Akbar Susamto.