Jakarta, CNBC Indonesia – 2022 has just begun. However, a series of bad news coming from the global threaten the country’s economy. Starting from China, Europe to the United States (US).
“2022 we still have risks, US tapering, high world inflation, economic slowdown, shifting policy in China and so on, these will remain risks that we manage,” said Head of the Fiscal Policy Agency of the Ministry of Finance Febrio Kacaribu when talking to reporters on Wednesday ( 12/1/2022).
The global economy is estimated to grow slower according to the World Bank’s version, which is 4.1%. The new variant of the covid-19 omicron is the main scourge of the decline in the projection. In addition, there is an increase in global inflation due to rising international commodity prices.
In developed countries, the situation becomes more complex. In the US, for example, the spike in inflation prompted a tapering policy to be issued and continued with the increase in the benchmark interest rate by the US central bank, the Fed, which is estimated to be 3 times this year.
China is also increasingly difficult to pump up the economy. In addition to the omicron hit, China has to go through a supply chain crisis and weak domestic demand. China is Indonesia’s main trading partner. The worse China’s condition, the more immediate effects will be felt in Indonesia.
All of these problems will affect the country’s economy. Among other things, economic assumptions, starting from economic growth, the rupiah exchange rate and yield of government securities (SBN) will be affected.
If it is not managed properly, problems will continue to the state budget (APBN). Febrio ensured that the government would take care that the impact was not so bad.
“We see that our state budget is safe, the state budget is strong in particular With a very good performance in 2021, revenue of 20% above the target is a condition, indeed we are grateful that the economic trend is improving. Commodity prices support us. We take advantage of the good situation to maintain the condition of the economic recovery itself,” he explained.