JAKARTA - Coordinating Minister for Economic Affairs, Airlangga Hartarto, said that currently the world's economic condition is facing challenges.
In addition, Airlangga said that the financial market was still showing fluctuations, with the JCI which had been in the negative zone but now it has shown a positive trend, and the rupiah exchange rate is also relatively stable despite the weakening, which is still better than other countries.
"The rupiah exchange rate is also relatively well maintained, although there is a weakening, if we compare other countries in Japan, the weakening is up to 50 percent as well as several other countries, we are still better off," he said in an economic agreement with the President of the Republic of Indonesia, strengthening Indonesia's economic resilience in the midst of a wave of trade tariff wars, Tuesday, April 8.
Airlangga also mentioned that the United States also mentioned that the weakening of the US dollar currency was caused by several countries that became currency manipulators, which used as an excuse to implement non-tariff barriers.
"The United States is suing the weakening of the currency and accuses several countries of being currency manipulators, of being used as non-taiff barriers or non-tariff barriers," he explained.
On the other hand, Airlangga said that Indonesia's yield treasury and bonds were still well maintained, and Indonesia's foreign exchange reserves remained relatively stable.
Airlangga said, after the announcement of the determination of the trade tariff by United States President Donald Trump, global economic uncertainty immediately increased sharply.
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According to him, the impact of the policy is likely to trigger a greater recession, although in Indonesia the recession probability level is estimated to be still relatively low, which is around 5 percent.
In addition, Airlangga added that the uncertainty in trade policy is also very high, causing global money market turmoil, weakening currencies in emerging markets, and retaliation of tariffs by China.
Airlangga said disturbances in the global supply chain also affected many corporations, which ultimately chose to delay consumption and investment, and were careful in expanding.
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