The Prospects Of The World Economy Are Gloomy, Global Institutions Cut Growth Collectively

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani revealed that the current world situation is still filled with ongoing uncertainty. According to him, geopolitical factors in Eastern Europe have further distanced global projections from achieving strong growth.

The Minister of Finance did not deny that all the dynamics would encourage the adjustment of the growth target for the whole of 2022. This signal was also captured by various international economic institutions.

"As is known, in April there were a lot of reports from the OECD (Organization for Economic Cooperation and Development), the World Bank, the IMF that would submit a revision of the global economic outlook with the war in Ukraine," he said when delivering a press statement to the media crew. online on Wednesday, April 13.

In his explanation, the Minister of Finance said that if the OECD made a downward revision of the world growth target from the previous 4.5 percent to 3.5 percent.

Then the international financial organization World Bank also did the same thing by cutting economic growth to 4 percent to 5 percent from the initial 5.4 percent for the Asia-Pacific region this year.

"So the decline is quite strong in the range of 1 percent," said the Minister of Finance.

The state treasurer himself emphasized that the government is still optimistic that Indonesia can achieve its economic growth target within a predetermined range.

"But we still believe we can reach the range of 4.5 percent to 5.2 percent for the first quarter of 2021 with a midpoint of 5.0 percent. Meanwhile, for the whole year, it is 4.8 percent to 5.2 percent,” concluded the Minister of Finance Sri Mulyani.