This means that the pandemic, which engulfed all countries, caused the global economy to collapse. (The pandemic) coupled with the Russia-Ukraine war led to the current food crisis, energy crisis, and financial crisis, which are haunting all countrieJakarta (ANTARA) - President Joko Widodo (Jokowi) on Tuesday received a report from Finance Minister Sri Mulyani Indrawati on the deteriorating global economy, with many countries applying to the International Monetary Fund (IMF) for financial assistance.
"This morning, I received a report from the Finance Minister in Washington D.C. She said 28 countries have been queuing as IMF patients," he said here on Tuesday.
The President made the remarks while opening the 12th Congress of the Indonesian Veterans Legion (LVRI) and the 11th National Congress of the Indonesian Association of Veterans' Wives (Piveri) 2022.
He said that the global economic situation has become increasingly difficult due to the impact of the COVID-19 pandemic and the Russia-Ukraine war, which have disrupted food and energy supply chains and given rise to a financial crisis.
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"This means that the pandemic, which engulfed all countries, caused the global economy to collapse. (The pandemic) coupled with the Russia-Ukraine war led to the current food crisis, energy crisis, and financial crisis, which are haunting all countries," he added.
Currently, 66 countries are at risk of collapsing due to the unpredictable global situation, he highlighted.
"International institutions have reported that 66 countries are vulnerable to collapse. At this moment, 345 million people in 82 countries are suffering acute (food shortage and starvation). This means that there is a food crisis," he said.
Indonesia has continued to make efforts to improve its economic fundamentals and conduct bureaucratic reforms amid global economic uncertainty, Widodo added.
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The efforts have been in place for a few years now and have been fruitful. As a result, Indonesia has managed to record economic growth of 5.44 percent in the second quarter of 2022, he said.
"The economic growth is among the best in the world because we continue to conduct fundamental reforms, including structural reform and bureaucratic reform, despite the pandemic," the President explained.
Earlier, he predicted that the Indonesian economy will perform better in the third quarter compared to the previous quarter.
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Translator: Indra Arief P, Suharto
Editor: Fardah Assegaf
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