The G20 Summit was held from November 15–16 this year.
"I conclude that everyone is confused, everything is confusing, I see all the wrinkles on their face here, their hairs are getting more gray, and indeed, this global situation has no certainty, no confirmation," he remarked at the Bank Indonesia Annual Meeting here.
The leaders of G20 nations comprise 19 heads of state and one leader of the European Union. G20 countries account for 85 percent of the global gross domestic product (GDP).
Widodo said that the current global situation is still rife with uncertainty and complexity, and has grown even more difficult to predict. In fact, no one can guess the direction of the global economy with confidence, he added.
"For example, just one: oil price. Who can determine? I asked the big oil producers, they could not predict, and would be capped. The price of oil is even more difficult; how will it be calculated later?” he asked.
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Therefore, everyone must be optimistic, but at the same time, remain vigilant, he said. As an example, he cited the need to anticipate export performance because, for the coming year, there are predictions of an economic slowdown for Indonesia's trading partners, such as China, the United States, and the European Union.
In addition, the normalization of the US monetary policy is also expected to restrict the pace of economic growth in that country. This will affect demand for US imports, which, in turn, will also affect exports from Indonesia.
"Our exports there are also very huge, our exports to China are very huge, to the European Union is also so huge. So be careful," he cautioned.
The head of state also asked that the investment climate continue to be improved so that the ever-increasing investment target can be achieved. All parties must also maintain household consumption, which has a large influence on economic growth.
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"Our economic GDP is very much affected, very large related to consumption. We have to change this little by little so that consumption can go into production," he said.
During a meeting with volunteer groups here on November 26, Widodo had said that graying hair and wrinkles are physical characteristics of leaders who care about the people.
His comments about leaders’ physical characteristics became a hot topic among citizens, who associated them with several figures who are expected to become presidential candidates in the 2024 election.
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