G20 Countries' Economic Outlook: Indonesia's Future Looks Bright

Economics & Macro

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Adi Ahdiat 03/11/2022 15:40 WIB

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Among G20 countries, the IMF predicts that India, Indonesia, and China will achieve the highest economic growth in 2023.

2023 G20 Countries' Economic Growth Projections

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G20 Countries' Economic Outlook: Indonesia's Future Looks Bright

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2023 G20 Countries' Economic Growth Projections

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The International Monetary Fund (IMF) projects that the global economy will decline next year. "Global economic growth is projected to slow from 6% in 2021 to 3.2% in 2022, and 2.7% in 2023," the IMF predicted in its October 2022 World Economic Outlook report.

"The global economy faces numerous headwinds. Inflation is higher than it has been in decades, there is financial tightening in many regions, the Russian invasion of Ukraine, and the lingering impact of the Covid-19 pandemic," said the IMF.

However, these global economic headwinds are expected to be felt more acutely by developed countries. Meanwhile, the economic slowdown in developing countries is generally predicted to be less severe.

Among G20 countries, the IMF predicts that India, Indonesia, and China will achieve the highest economic growth rates in 2023. Russia, Germany, and Italy are projected to experience the lowest growth, as detailed in the graph.

Amidst this gloomy global economic situation, the IMF is urging countries to strengthen international cooperation, including by easing export restrictions on commodities.

"When countries ban exports, they can make it harder to buy other goods they might need from abroad. Export bans in one country often provoke retaliatory export bans from other countries, making everyone worse off," said the IMF.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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G20 Countries' Economic Outlook: Indonesia's Future Looks Bright

G20 Countries' Economic Outlook: Indonesia's Future Looks Bright

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G20 Countries' Economic Outlook: Indonesia's Future Looks Bright

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