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Could Recession in many countries!




Jakarta, CNBC Indonesia – President Joko Widodo (Jokowi) revealed the “horror” of the dynamics of the world economy which could further aggravate global uncertainty and even trigger recessions in many countries.

Jokowi emphasized to his ministers when giving directions during the full Cabinet session held at the State Palace, Presidential Palace Complex, Jakarta, as quoted on Tuesday (05/10/2022).

“I want us all to stay focused on issues related to the pandemic and also related to the global economic turmoil, which so far has not stopped, has not ended,” Jokowi said.

One of Jokowi’s main concerns is the tension between Russia and Ukraine. Jokowi sees, the war will not end at least in the near future.

“The war in Ukraine is still not over and seems to be showing signs of prolonging, so global uncertainty is becoming increasingly uncertain,” Jokowi said.

Apart from the war between Russia and Ukraine, Jokowi also highlighted the impact of the normalization of the United States (US) monetary policy. According to him, the policy of the US central bank will trigger a rise in inflation.

“And that will lead to a recession in many countries. Therefore, macroeconomic management really needs to be followed in detail and at the micro level as well,” he explained.

[Gambas:Video CNBC]

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Jokowi deserves to be wary of it, that’s how the inflation effect is skyrocketing!

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