The president has ordered yesterday to conduct a stress test. We should check if there are scenarios like this, then what would happen? Can our economy still handle it?
Jakarta (ANTARA) - The government conducts a stress test to identify risks and actions that must be prepared to handle the threat of global recession in 2023, Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan stated.

"The president has ordered yesterday to conduct a stress test. We should check if there are scenarios like this, then what would happen? Can our economy still handle it?" he noted here, Wednesday.

Indonesia is preparing itself to confront the perfect storm. This perfect storm condition emerges since three problems occur simultaneously.

These problems comprise high inflation, including in several developed countries, technical and effective recession, and uncertainty due to the geopolitical condition.

According to Pandjaitan, this perfect storm condition can occur domestically and globally, for which Indonesia needs to be careful.


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This should be watched out for, especially over concerns that the Russia-Ukraine war, which does not seem to be ending and continues to intensify, will prolong the food and energy crisis.

If the situation escalates to a nuclear war, then it would be dangerous since it is possible for cornered people to do anything, he remarked.

To this end, Pandjaitan stated that the government was currently calculating and preparing worst-case scenarios to handle the condition. He also urged all parties to work together to handle it.

The minister also called on all parties to participate in stemming inflation by planting foods of daily need.


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"Just like me, in my house, even though I live in Kuningan (Jakarta), I still plant chili, onion, at least for me and my grandchildren. Thus, if we do all that, we would not be lacking, at least we have (our) basic needs (met)," he remarked.

He also emphasized that in spite of the economy having started to improve and recover, Indonesia should still be careful.

"We are lucky that once again, our economy is in a very good position," he affirmed.

"However, anything could happen if we are not careful. Hence, once again, I am very happy that we are very unified in handling it," he stated.

Indonesia is still a long way from entering recession. However, Indonesia cannot be arrogant, the minister stressed.

"This is because anything can happen in six months," he explained.

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Translator: Ade Irma Junida, Fadhli Ruhman
Editor: Fardah Assegaf
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