29-2-2024 (JAKARTA) Indonesian President Joko Widodo expressed optimism on Wednesday, stating that the country is unlikely to experience a recession due to its robust domestic economic growth and effective management of inflation.
Speaking before military superiors in Jakarta, Widodo highlighted the positive indicators that contribute to Indonesia’s economic stability. He emphasized that the country’s probability of falling into a recession is currently at 1.5 percent, a figure for which he urged gratitude and a commitment to maintain.
Indonesia has successfully maintained inflation at a controlled rate of 2.57 percent. Additionally, poverty and unemployment rates have shown improvement, declining to 9.36 percent and 5.32 percent, respectively. These factors, combined with a 5.05 percent expansion of the Gross Domestic Product in 2023, provide a solid foundation for the country’s economic resilience.
However, in light of intense international competition, uncertainties, and the upward trend in food prices, President Widodo cautioned citizens to exercise caution. He acknowledged that complex global challenges have the potential to significantly impact Indonesia’s social and economic conditions. The president also acknowledged the difficulty of accurately predicting world geopolitics, underscoring the need for vigilance in the face of economic uncertainty.
