Jakarta (ANTARA) - The world is currently facing much more complex problems as compared to the ones encountered during the COVID-19 pandemic, Finance Minister Sri Mulyani Indrawati stated.

The minister delivered the statement during the Pathways Towards Economic Security: Indonesia Poverty Assessment hosted by the World Bank here on Tuesday.

"I did not say that the pandemic was not complicated. At that time, we were also overwhelmed. However, currently, we are faced with far more complex (global) policies, all of which are not merely (caused) by just economic issues, but (rather) economic issues sparked by political, geopolitical, and security (problems). Hence, the projections and predictions grew more complex because we cannot predict politics," she elaborated.

The current geopolitical situation, which leads to global crises, causes higher prices of energy and food as well as a spike in the inflation rate, particularly in the United States and Europe, she pointed out.

The range of issues, which exacerbates inflation in the West, impacts the global community, since The Fed raised its interest rate, she stated. A high interest rate, coupled with skyrocketing inflation, kill jobs, Indrawati elaborated.

She pointed out that while the economic issue stirs the world, the geopolitical situation also created more economic problems.

"I will ask whoever is here who comes from Australia. Can you predict what is going to happen to Australian politics? I do not think so. Although there are lots of polls, can you predict what is going to happen in the United States' election in 2024? I do not think so," she remarked.

The minister urged political stakeholders to issue better policies in order to address several issues on a global scale.

"Politics is a real thing that can form many policies, which is why we must do the best in terms of the political aspect and do our best to encourage (the creation of) best policies," the minister added.

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Translator: M Baqir Idrus Alatas, Mecca Yumna
Editor: Rahmad Nasution
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