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President not intending to scare people about 2023 recession: minister

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President Joko Widodo (Jokowi) has spoken about a possible global recession in 2023 not to scare people but because it has been discussed by the masses and is currently a relevant topic, the Investment Minister said.

"No. Who said it was to scare? People have been talking (about it) a lot everywhere, really. Those who say it is frightening are the ones, actually the ones, being dangerous," Minister Bahlil Lahadalia said at the Presidential Palace here on Wednesday.

The President referred to the recession risk with the intention of ensuring that everyone is prepared for the threat of the global recession and economic slowdown that has been forecast for 2023, the minister added.

The economic and geopolitical turmoil caused by the trade war between the United States and China, the COVID-19 pandemic, and the military conflict between Russia and Ukraine will cast a shadow on global economic conditions this year and the next, he observed.

So far, Indonesia has been able to maintain economic stability and growth despite the global crisis, he noted. This has been due to President Widodo’s leadership, he said.

"President Jokowi's leadership has been recognized by the global community. Strong. Well, that's what we need. Be careful, alright? If in the future we cannot manage global issues properly, it will have an impact on the country," he warned.

He also urged everyone to help maintain political stability because any chaos would compromise economic stability.

"Make it (peaceful). Don't slander too much. Don't worry about things that aren't too much of an issue; don't be overly concerned about it because the world is in an unstable condition," he said.

At the National Investment Coordination Meeting here on Wednesday, Widodo said that the global economy is expected to see a recession in early 2023, so all government officials must work beyond what they normally do and stay alert for crises.

"We can't work normally in abnormal circumstances. Next year, 2023 will be even more difficult for all countries, and it is estimated that early next year will be a global recession," he added. (Antaranews)

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