HEADLINE | Economy- Global chaos could get in way of 2023 recovery, Jokowi warns

President Joko “Jokowi“ Widodo speaks during a national investment meeting in Jakarta, Nov. 30, 2022.(BPMI Setpers/Rusman)


Fadhil Haidar Sulaeman (The Jakarta Post)


PREMIUM Jakarta   ●   Wed, November 30, 2022


Multiple high-ranking government officials have raised serious concerns about the economic hardships to be faced in 2023, noting the necessity to mitigate such risks.


In a keynote address at the National Investment Meeting held on Wednesday, President Joko “Jokowi” Widodo explained that Indonesia and many other countries were facing economic woes that will be prolonged into 2023, and he expects a global recession to start “early next year”.

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Following the Russian military invasion of Ukraine, hopes of an economic recovery occurring in 2022 were dashed as trade and financial sanctions hampered the flow of goods and services among nations across the globe, which triggered multiple problems including sluggish economic growth, rising inflation, as well as higher interest rates.


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