President Jokowi: This Century Is Asia's Century, Asia For The World

JAKARTA - President Joko Widodo said that this is the Asian century where the existence of countries in Asia is not only contributing to Asia but to the world.

"We believe that this century is the century of Asia. Asia is not only for Asia, but Asia for the world, especially in the midst of a world that is being divided," said the President in his online remarks at The Future of Asia Conference, quoted by Antara, Friday, 27 May.

The President said that the Asian region needs to continue to act as a catalyst and engine for global stability, peace and prosperity.

According to Jokowi, many global challenges are being faced. Economic recovery efforts due to the COVID-19 pandemic are still uneven, besides the threat of a new wave of COVID-19 variants that must be anticipated.

"All of this has been exacerbated again by the occurrence of the Russia-Ukraine conflict which has brought a new chapter in the geopolitical constellation," said the President.

Jokowi said that global politics was experiencing increased tensions, world trade supply chains were disrupted, there was scarcity, rising prices of goods, and an unavoidable global economic downturn.

In addition, global GDP growth has decreased from 3.8 percent to 2.6 percent in 2022.

"At least 38 low-income countries have reached a high-risk status for their foreign debt burden. The achievement of the SDGs is getting delayed and 150 million people in the world are plunged into extreme poverty again, and more than 160 million people in the world are starving again," said the President.

Jokowi said that although the Asian economy soared 6.9 percent last year, economic recovery has not yet occurred in the wider region.

According to President Jokowi, the Asian Development Bank (ADB) has estimated Asia's GDP will increase to 5.2 percent in 2022 and to 5.3 percent in 2023 with inflation rising 3.7 percent this year and 3.1 percent in 2023.

Meanwhile in the Asean region, the poverty rate reached 4.7 million people and more than 9.3 million people lost their jobs.

"Therefore, we must accelerate economic recovery. We need investment in the national health sector. We need investment in human resources to increase productivity and competitiveness. We need to strengthen macroeconomic fundamentals and take advantage of green economic opportunities," he explained.

President Jokowi stressed that Indonesia will continue to support post-pandemic recovery efforts through strengthening economic cooperation at the bilateral level, cooperation within the Asean framework, and taking advantage of the momentum of the Indonesian G20 Presidency as a catalyst for global economic recovery.