Indonesia’s economy resilient in the face of Russia-Ukraine crisis

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World Bank
World Bank Building. Photo: investor id

Jakarta, IO – The World Bank is of the view that Indonesia’s economy is more resistant to the impact of Russian-Ukrainian war compared to other ASEAN countries. It is projected to even grow by 5.1 percent this year. If realized, that will be quite an achievement amidst challenging environment marked by commodity supply disruptions, increased financial pressures and other obstacles to global growth.

The World Bank said that the risks are magnified due to the geopolitical turmoil and the ongoing Covid-19 pandemic, on top of 40-year high inflation in the United States and a structural slowdown in China.

Read: The Russia-Ukraine war, Indonesia’s endanger signal for food security

“However, commodity-exporting countries, such as Indonesia and Malaysia, can cushion global price increases more easily than commodity-importing countries such as Fiji and Thailand,” said the World Bank, Wednesday (6/4).