Global Economic Pressure Is Considered Not To Have A Large Impact On Indonesia

Indonesian Economy (Photo: Pexels)

JAKARTA - Executive Director of the Center of Reform on Economics (Core) Indonesia Mohammad Faisal, projects that Indonesia's 2023 economic growth will grow in expansion at 4.5-5 percent. This is due to global economic pressure, but it will not have a major impact on Indonesia. According to him, the Indonesian economy still tends to survive compared to other countries. Faisal said in response to the statement by the Coordinating Minister for the Economy that next year is a year of betting for Indonesia after two years of being hit by the pandemic. "So it means that it is still relatively strong when compared to other countries that experience a slowdown in growth," said Faisal, Saturday, December 10. Faisal emphasized that next year's economic growth will indeed decline slightly compared to this year, but it is still relatively resilient. "Indonesia is relatively more resilient, still relatively strong, 4.5-5 percent," he said. According to Faisal, the Indonesian economy is supported by the domestic economy. He said domestic consumption was still good, so global pressure did not reduce Indonesia's economic growth much even though it still had an impact. "Because there are a few times we are also affected by the global economy and this has an effect through trade, through investment, and so on," he explained. Faisal added that Indonesia's dependence on the global economy is not as big as other countries. So that the impact of the global economic slowdown in other countries that have smaller and integrated markets with the global economy will be greater through trade. "Indonesia is a large domestic market and integration globally is not as big as countries such as Malaysia, Thailand, Vietnam, especially Singapore. That's why the pressure is not as big as they are, so the slowers are not as big as they are," he concluded. Previously, Coordinating Minister for Economic Affairs Airlangga Hartarto, said that next year is Indonesia's betting year after two years of the pandemic. "Of course next year is Indonesia's gamble, because if we can handle the challenges that exist next year, then we hope that Indonesia can take off next year," said Airlangga, Friday, December 9. "Because of our challenges for the past two years we can survive, only next year we have to be able to survive and at that time there are not many countries that can take off like Indonesia," he continued. The chairman of the Golkar Party added that the momentum of the success of the G20 Indonesia Presidency was able to have an impact on the sustainability of the acceleration of national economic growth, which in the third quarter managed to penetrate the figure of 5.72 percent (year on year).