TEMPO.CO, Jakarta - Indonesian Finance Minister Sri Mulyani said all countries, particularly developing ones, were still facing tough challenges in 2023, including slower growth in the economy compared to last year.

In 2022, all countries’ economy was relatively lower than in 2021. Indonesia, meanwhile, recorded 5.3 percent economic growth in 2022. “Indonesia is relatively in a better situation than countries in ASEAN, G20,” she said in a press conference on the country’s state budget broadcast via the ministry’s YouTube channel on Wednesday, February 22.

Sri assessed that the economic slowdown in developing countries would continue. Moreover, they were facing a potential recession. This slowing growth of the global economy was attributable to a number of countries, including the United States and European countries.

As for China, although its economy was predicted to grow, the figure would likely be lower than the target determined by President Xi Jinping. “This will surely be a decisive factor for Indonesia’s economy,” the state treasurer opined.

Sri disclosed global commodity index data which increased 15 percent year on year or yoy. In addition, several countries recorded inflation at a 40-year or 4-decade high. They were then added with the strengthening dollar index given the US’ positive growth albeit high inflation.

She said those described that the global economy was still depressed, especially driven by European countries that were directly affected by the war in Ukraine.

Sri Mulyani claimed Indonesia’s economic growth of 5.3 percent in 2022 was an achievement. This is also the basis for the country to be optimistic because the economy showed resilience and strong recovery.

MOH. KHORY ALFARIZI

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