Jakarta, CNBC Indonesia – Finance Minister Sri Mulyani Indrawati revealed the latest news related to the global economy. He said the world situation is now in danger.
Not only for the period of this year, but it can also spread up to 2023. This was announced at the opening of the meeting of finance ministers and central bank governors of the G20 member countries in Washington DC, United States (USA) , which aired via Bank Indonesia’s YouTube account, Thursday (10/13/2022).
“We can predict that this global situation is in 2022 and perhaps it could continue into 2023”. He said.
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The projection also refers to the World Economic Outlook: Countering The Cost of Living Crisis report published by the International Monetary Fund (IMF).
Meanwhile, the projection for world economic growth this year remains unchanged, at 3.2%. Meanwhile, next year, economic growth will be reduced to 2.7% from the previous 2.9%. The IMF sees the 2023 situation as the weakest growth profile since 2001, with the exception of the Covid-19 pandemic and the global financial crisis.
Furthermore, a recession will surely hit the United States (USA) and Europe.
Japan tends to be stable where by 2022 and 2023 the economy grows by 1.7% and 1.6% respectively. Meanwhile, the Chinese economy is projected to grow 3.2% in 2022 and 4.4% in 2023. For India, it is estimated to grow 6.8% and 6.1% for Brazil by 2.8% and 1% and Mexico by 2.1% and 1.2%.
“We must not ignore the possibility of increasing the risk of a recession,” said Sri Mulyani.
Sri Mulyani calls on all G20 members to jointly support economic recovery.
“Complex global economic challenges cannot be solved by one country or group of countries acting alone, collective action is needed by a group comprising 85% of the world economy,” he concluded.
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