Sri Mulyani: Russia-Ukraine War Triples Efforts of Economic Recovery

TEMPO.CO, Jakarta - Finance Minister Sri Mulyani Indrawati stated that the conflict between Russia and Ukraine increased the burden on the global economy to recover after being hit hard by the COVID-19 pandemic. As a result, efforts for economic recovery have to double or even triple.

Sri made the statement at a seminar on Digital Transformation for Financial Inclusion of Women, Youth, and MSMEs to Promote Inclusive Growth on Wednesday evening, May 11, which is part of the series of G20 meetings.

“Geopolitical conflicts create more challenges for our recovery,” She remarked.

The former managing director of the World Bank mentioned that recovering the current economy requires huge efforts and global steps, including through economic forums such as G20.

“Thus, the Indonesian G20 presidency seeks to achieve [our theme:] recover together, recover stronger, so that our efforts must be doubled, or even tripled,” she said.

Sri Mulyani further opined that in these difficult conditions, all countries must be able to ensure that the most vulnerable and least accessible groups of people in financial services are able to rise from economic pressures. She added that the group consists of women, young people, as well as micro, small, and medium enterprises (MSMEs).

Read: Sri Mulyani Optimistic on Post-pandemic Economic Recovery

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