Minister Sri Mulyani Indrawati believes Indonesia’s low recession probability reflects the resilience of domestic economic growth, indicators of the balance of payments, and the strong state budget
Finance Minister Sri Mulyani Indrawati said she is aware of the potential for a recession in Indonesia, with a Bloomberg survey placing it 14th out of 15 Asian countries that are likely to experience a recession. Minister Indrawati said she believes that the low recession probability for Indonesia reflects the resilience of domestic economic growth, indicators of the balance of payments, and the strong State Budget (APBN).
According to the minister, Indonesia’s financial sector has remained relatively strong since the global crisis of 2008–2009. “But, we still have to be vigilant because this condition will last until next year. Global risks regarding inflation and recession or stagflation are very real and will become one of the important topics to discuss during the Indonesian Presidency of G20,” she said.