TEMPO.CO, Jakarta - Indonesian Finance Minister Sri Mulyani Indrawati assessed that ASEAN and G20 countries continue to experience weak economic growth. In Argentina, for example, uncertainty remains over the new government's steps to stabilize and address the economic crisis.

“Indonesia is still one of the countries with the highest economic growth performance in the ASEAN and G20, which is at 5 percent,” Sri said at the press conference on the December 2023 edition of the State Budget at the Finance Ministry building in Central Jakarta, on Friday, December 15, 2023.

In terms of the manufacturing industry, Sri explained that 69.6 percent of countries are in the contraction zone in line with the weakening of the global economy. This even includes major economic nations, such as the United States, Germany, France, the United Kingdom, Italy, Japan, and South Korea.

Indonesia’s neighbors, namely Thailand, Malaysia, and Vietnam, also have their manufacturing Purchasing Managers Index (PMI) in the contraction zone. Only 30 percent of the countries surveyed by the PMI are in the expansion zone, including Indonesia.

“Indonesia has been continuously in the expansion zone which is quite sustainable since the end of the [COVID-19] pandemic,” the state treasurer said, concluding that the country’s economy and its manufacturing industry showed resilience.

During the press conference, Sri Mulyani also assessed that the global economy would remain shrouded in uncertainty until the end of the year.

MOH. KHORY ALFARIZI

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