CORE ECONOMIC OUTLOOK 2023 (ENGLISH VERSION)

Four years into the COVID-19 pandemic, the global economy faces another serious challenge. The concern over a recession is growing as geopolitical tensions are escalating, inflation is rising in several countries, and the global interest rate is increasing. Nevertheless, until 2022, the impacts of the pandemic have not been lessened. In fact, the unemployment rate is still high and revenues are declining in several sectors. Even, some countries are vulnerable to food and energy crises. However, amid global vulnerability, Indonesia’s economy tends to be stable and resilient. Even though the global economic growth in 2023 is projected to be slower, CORE Indonesia believes there is a chance to avoid a recession.