Indonesia Global Recession Webinar at UMN: Stay Optimistic and Vigilant

(Doc. UMN)

Tangerang – A webinar themed “Global Recession, Real Threat or Just a Bluff” was held on Monday, March 6, 2023, at UMN’s Lecture Theater. The webinar invited Lemhannas Governor Andi Widjajanto, Head of the Fiscal Policy Agency of the Ministry of Finance Febrio Kacaribu, Rector of Unika Atma Jaya Dr. Agustinus Prasetyantoko, Indonesian Ambassador to Singapore Suryopratomo, and Commissioner of the Indonesia Stock Exchange Pandu Sjahrir. The event, which took place as an agenda of Kompas.id’s sixth anniversary, was divided into two shifts hosted by Antonius Tomy Trinugroho and Andreas Maryoto. Both are Deputy Managing Editors of Kompas Daily.

Sutta Dharmasaputra, Editor-in-Chief of Kompas Daily, quoted the Minister of Finance Sri Mulyani that Indonesia is not included in the ⅓ of countries in the world experiencing a recession.

“Apparently, what is called a global recession is not as bad as imagined. In the end, there is a view that the global recession is just overthinking. However, should we relax and let our guard down? The reason is that the geopolitical conditions that are heating up are not over yet,” Sutta opened.

Moderator Andreas Maryoto started the webinar with a presentation about the National Defense Institute from Andi Widjajanto. Andi mentioned that the National Defense Institute has five main studies promoting the Republic of Indonesia’s progress: democratic consolidation, digital transformation, green economy, blue economy, and the National Capital City. These studies are also sustainable in defending the country from the global recession.

“The global recession is not something that is given. It is something that must be worked on day to day, week to week, and year to year. For this reason, monetary, fiscal, and politics must be calculated correctly so that the crisis mitigation can be done together,” Andi said.

Then, Febrio as a speaker representing Sri Mulyani, mentioned Indonesia’s optimism in facing a global recession.

In the last three years, Indonesia has faced tremendous challenges from economic turmoil due to the Covid-19 pandemic. The whole world also experienced economic paralysis. After Covid-19, Omicron, and Delta, came the geopolitical impact of the Russian and Ukrainian wars. However, Indonesia survived.

“Throughout 2022, Indonesia’s economy has been at a positive point. Exports have dominated strongly. However, the quality of human resources must be strengthened,” Febrio said.

Meanwhile, Augustine analogized a recession to a high-speed train forced to brake quickly in a short time. The fear of recession certainly exists. However, Indonesians remain optimistic and vigilant.

“The threat of recession is real and not a bluff. It may weaken in 2023, but Indonesia always has the opportunity to grow, change, and transform to a better position. Indeed, the threat of inflation is softening, but it is not completely gone. Because it is uncertain, inflation will rise when trigger factors appear,” Agustinus explained.

By Annisa Dyah Novia | UMN News Service

English translation by Levina Chrestella Theodora

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