Center of Economic and Law Studies (Celios) director Bhima Yudhistira emphasized that the World Bank report is not just a prediction.
In fact, market players have agreed that there will be a global economic slowdown in 2023 due to a combination of war, supply chain upheaval, hyperinflation, stagflation and cost of living crisis triggered by rising food and energy prices.
The signs are clearly visible in the US economy which slowed down in the second quarter. “The negative US economic growth is a signal of a slowdown in developed countries,” he said, Monday (19/9).
According to him, Indonesia will be affected by this slowdown, especially in terms of trade. “If there is a global recession, the trade surplus that we have been proud of could turn into a trade deficit,” he warned.