Jokowi Warns About Global Economic Turmoil


The global events that have occurred recently have had an impact on several aspects of Indonesia, such as the economy. Therefore, President Joko Widodo warned his ministers to be careful of the global economic turmoil that continues to bring uncertainty.

Jokowi gave the main focus on the Russia-Ukraine war that is not over yet. He predicts that the war that affects the world situation will not end shortly.

“The Ukraine war is still not over and seems to be showing signs of being prolonged, so global uncertainty is becoming increasingly uncertain,” Jokowi said in the introduction to the Plenary Cabinet Session, as quoted on Tuesday (10/5/2022).

In addition to the war between Russia and Ukraine, Jokowi also highlighted the impact of normalizing the monetary policy of the United States (US). According to him, the US central bank’s policy will trigger an increase in inflation.

“And this will lead to a recession in many countries. Therefore, macroeconomic management must really be followed in detail and micro as well,” he explained.

Jokowi reminded his staff to continue to monitor the latest developments, especially those related to food and energy. This is because global uncertainty will trigger food and energy shortages.

“Food affairs and energy affairs must also be carried out weekly, because of how important the management of these two things is for stabilization, our economic stability, especially price stability, and people’s basic goods,” he said.

The war update

It is known, It has been two and a half months since Russia began its attack on Ukraine on February 24. To date, there has been no sign of de-escalation of Moscow’s attacks on its neighbor.

Ukraine’s military says Russia is currently trying to seize some of the territory still controlled by Kyiv. One of the centers of intense fighting was reported in Luhansk.

This move was taken by Moscow to seize some Ukrainian territory before 9 May. Meanwhile, May 9 itself is the date on which the Soviet Union won the battle against Nazi Germany and is still celebrated as Victory Day.

According to US Ambassador to the United Nations Linda Thomas-Greenfield, the Kremlin “had nothing to celebrate” on May 9. He said he actually found surprising facts regarding the Russian bombing of a school in Luhansk. The British also expressed the same thing which condemned the bombing.

Meanwhile, Moscow troops are also said to have continued to attack the Azovstal steel factory in Mariupol. The factory itself is the headquarters of the Ukrainian military in the region.