With strong fundamentals, Indonesia’s economic performance shows optimistic potential and resilience amid various global challenges. To maintain public optimism regarding the 2023 economic targets and the economic projections for 2024, the Office of the Coordinating Economic Ministry organized a national seminar on the outlook of the Indonesian Economy in Jakarta on Friday, December 22, 2023. The seminar had the theme of “Optimism Strengthening National Economy Amid Global Dynamics,” and featured leaders from various ministries/agencies, business practitioners and academics to address issues and policy inputs to mitigate the risks of global economic upheavals while also strengthening domestic economic resilience. The national seminar program also included two high-level panel sessions, each with four panelists. President Joko “Jokowi” Widodo, who attended the national seminar on the outlook of the Indonesian economy, stated that Indonesia has successfully handled and recovered from various crises. With the country receiving international recognition for its efforts in accelerating economic recovery, transitioning from pandemic to post-pandemic operations, and maintaining high growth since emerging from the pandemic in mid-2022.

The world is currently facing challenges that can potentially slow global economic growth and widen the divergence in economic development among countries. Considering Indonesia’s current economic performance, Jokowi is optimistic that Indonesia can turn these challenges into opportunities that will sustain national economic growth and resilience. In the short term, economic growth needs to be continually driven by mitigating negative transmission that comes from global economic weakening and slowdown, ensuring the preservation of public purchasing power, attracting investments and maintaining macroeconomic stability. Economic growth should also be inclusive and sustainable to ensure that economic resilience persists through the medium to long term. This can be achieved through accelerated energy transition, sustainable financing, digital innovation and the preparation of human resources based on a sustainable economy.

This article was published in collaboration with Coordinating Ministry for Economic Affairs Republic of Indonesia