Jakarta, CNBC Indonesia – Three important people in this country brought an important message that reminded all parties to be vigilant. The important message is about the ‘rare crisis’ looming over the world.
The world economy is believed to be in recession next year. President Joko Widodo (Jokowi), Finance Minister Sri Mulyani and Coordinating Minister of Maritime Affairs and Investment Luhut Binsar Pandjaitan have expressed the danger of a recession.
The first message was conveyed by President Joko Widodo (Jokowi) who said he received “whispers” about the prospects for the world economy next year from various international institutions and world officials at the G7. “The world is currently in a difficult position, its position is really difficult for all countries,” said Jokowi, at the ‘SOE Startup Day 2022’ event, quoted on Thursday (29/9/2022).
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“International institutions say 2022 is very difficult this year. Next year they say it will be darker,” Jokowi said.
He revealed that the war between Russia and Ukraine proved to be the main cause of global uncertainty this year. The war has triggered various types of crises, ranging from energy, food, to that of the financial sector.
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“The food crisis, the energy crisis, the financial crisis, Covid-19 that has not yet recovered and the consequences we know now,” said Jokowi.
Not to be missed, Luhut also shared a message about the ‘ghost’ of the global recession. He also called it the “perfect storm”. Luhut asked all sides to be united in dealing with him.
“Once again, I urge you to keep our ranks close to face the perfect storm, which is now starting to show that the world economy is shaking, where the US will continue to raise interest rates,” said Luhut. quoted Thursday (29/29). 9/2022).
The Fed is expected to raise interest rates to 4.75%. “Like it or not, it will definitely happen to us,” she stressed.
Indonesia’s economy, according to him, is one of the best. The problem of food inflation has begun to be controlled. However, he saw that core inflation had risen.
“Inflation until the end of next month or this month may already be close to 5%,” Luhut said.
He assessed that inflation has become a global problem. Therefore, he called for the strengthening of the resilience of families and the village.
Luhut gave an example of the supply of chilli, onions and eggs that needs to be resolved at the village level. “If this can be solved, haqqul is sure we won’t have as many problems as other countries,” she said.
He was also grateful that there were no public queues to get food.
“No one is queuing up to eat today. If we look at London now, there are a lot of empty markets, so why? They don’t want to import from China. So far the production is from China, they are not ready,” Luhut said.
“So we have to be aware of global issues and we are grateful and we haven’t seen these signs.”
Finance Minister Sri Mulyani also sent a similar message accompanied by vigilance. This former World Bank official shared a warning sign that the global economic situation will face unusual pressures. In fact, it hasn’t been seen in the last 40 years, since the 1980s, when the United States (US) raised interest rates on a large scale.
He recalled that the current global situation forces all parties to be more vigilant. Like Luhut, he has seen interest rates rise, the US dollar strengthen, and inflation hit double digits in developed countries.
“Therefore, the State Revenue and Expenditure Budget Law of 2023 is designed in this way, a statement by the government in keeping the policy in the midst of shocks and instability that will not necessarily occur in 40 years,” Sri Mulyani said in uploaded to Instagram @smindrawati, listed on Wednesday (9/28/2022).
Faced with this challenge, Sri Mulyani revealed that state revenues are expected to be IDR 2.463 trillion. According to him, this goal is safe when looking at current economic conditions with future projections.
“The volatility of commodity prices supports this assumption due to the significant impact on taxes, export duties and state non-tax revenues (PNBP). However, we will still prepare a mechanism to guarantee state revenues if commodity prices they won’t be as high as assumed, “he said.
Meanwhile, state spending is projected to reach Rs 3,061.2 trillion, which will focus on improving the quality of human resources, supporting election preparations, accelerating the development of the IKN and completing various infrastructure projects. strategic benefits for society and the economy. Transfers to the regions are earmarked for Rp 814.7 trillion, to support the priority sectors to be implemented by the regions.
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