"The government must anticipate the uncertainty and turmoil in the world economy that will persist until next year. The threat of a global economic recession against Indonesia needs to be watched out for," Maharani stated in Parliamentary Complex on Tuesday.
The speaker called to watch out for the threat of recession in the form of a decline in demand for exports of Indonesian finished products and the increase in interest rates in developed countries that caused capital flows to go abroad.
"Then, slowing economic growth and increasing operating costs due to the depreciation of the rupiah triggered by pressure on financial transaction performance," she added.
The government should continue to observe the dynamics of the global economy and prepare various anticipatory steps to maintain fiscal resilience and national economic stability.
"The House of Representatives urges the government to continue to observe and prepare anticipatory measures for various global and national factors that can put pressure on the state's financial capacity in the state budget and national economic conditions," Maharani noted.
Related news: Govt to offer incentives to industries to anticipate recession
This situation is in line with the disruption of global supply chains as a result of the Russia-Ukraine conflict that had severe impacts, especially in the food and energy sectors, which in turn worsen the rate of inflation.
"In the midst of utmost uncertainty and consecutive economic pressures, the House of Representatives lauds the government (efforts) in maintaining Indonesia's economic performance that is quite good and remains on a positive trajectory," she stated.
The House of Representatives hosted the 9th Plenary Session for the Second Session of the 2022-2023 Session Year after members of the council had been in recess since early October.
After Maharani's speech at the event, in which all fractions were participating, inauguration was conducted of interim replacements for members of the House of Representatives and members of the People's Consultative Assembly for the remainder of 2019-2024 period.
The plenary meeting, which began at 1 p.m. local time, was opened by Deputy Chairman of the Indonesian Parliament, Rachmat Gobel. He noted that out of the House of Representatives' members, as many as 91 were present in person, while as many as 218 members participated online.
Related news: Logistics industry remains strong in facing threat of recession
Related news: Gov't conducts stress test against global recession threat in 2023
Translator: Melalusa S K, Mecca Yumna
Editor: Suharto
Copyright © ANTARA 2022
