Indonesia Without Recession, Opportunity to Have the Largest Economy in 2045

Minister of Tourism and Creative Economy Sandiaga Uno in an online event touted as 'Opening Indonesia Knowledge Forum XI 2022' mentioned a recent Bloomberg survey, which he claimed stated that Indonesia is one of the countries predicted not to experience a recession. On this occasion, Uno invited the public to look forward positively. "Indeed, a global recession has the potential to come, but we are positive with collective efforts," said the Minister of Tourism on October 18. One of the government's efforts to deal with this widely predicted recession, he continued, is to aim to create 1.1 million new jobs in 2022 and increase it to 4.4 million new jobs in 2024. He emphasized that this goal is a common goal that must be achieved together. "Create more attractive programs so that many of our brothers and sisters can lift themselves up and lead to policy adjustments that will provide social justice for all Indonesian people," said Sandiaga. According to the Minister of Finance, Indonesia is dominated by Generation Z with 75 million people, and 70 million millennials. He assessed that the generation has characteristics that highlight agility, creativity, and curiosity. Sandiaga Uno also encouraged the younger generation to be observant in seeing opportunities, starting businesses, creating quality brands, and becoming champions in creating added value. "And take advantage of the digital era and technology in opening up job opportunities as widely as possible," he said.




Meanwhile, according to the Minister of State-Owned Enterprises (BUMN) Erick Thohir, he is optimistic that Indonesia will not be hit by a recession in 2023. As reported, various international financial institutions predict that the world will enter a recession next year. "So if you, ladies and gentlemen present today, feel pressured, it means you have taken the wrong position because Indonesia will not be in recession [in 2023]," said Erick at the Jakarta Convention Center, Tuesday, October 11, 2022. He is optimistic that based on various existing economic data, the Indonesian economy will continue to grow in the range of 5 percent until 2045. Indonesia will also position itself as the country with the largest economy in the world. "If not ranked 5th, it should be ranked 4th. Moreover, our middle class will continue to grow," he argued. He outlined four foundations that will support the country's economy. First, Indonesia's consistency in downstreaming various products derived from natural resources (SDA) accompanied by the development of industrialization. Second, Indonesia has become the world's food barn. Third, he continued, Indonesia has a young, innovative workforce so that the creative industry, especially those in the digital economy, continues to grow. The creative industry helps drive national economic growth. Fourth, said Erick Thohir, Indonesia has the strength as a breeding ground for startups. There are around 320 startups with good returns on investment. You can get news about the recession through the GIC Journal. In addition to the recession, you will also get other news such as crypto, gold, daily analysis, and other economic news. And if you are interested in trading, register to trade with a small capital starting from IDR 150,000!