Bank Indonesia (BI) has said it is optimistic that the global economy will recover in a balanced manner, despite the COVID-19 pandemic continuing to plague several nations.
“Everybody is handling the Omicron. While they are experiencing a disruption in the supply chain, these nations will recover,” BI Governor Perry Warjiyo noted at the 2022 Economic and Business Outlook here on Friday.
It is estimated that the world’s economic growth will slow to 4.4 percent from 5.4 percent the previous year, he said. Commodity prices are estimated to remain high, he added.
“For exporters, this is an opportunity, but the supply chain problem must be handled. This export performance will drive the economy nationally and in regions,” Warjiyo said.
“Commodity prices have also improved, so let’s take advantage of this opportunity,” he added.
Warjiyo further said he expects all parties to get involved in fixing the domestic investment climate. With this, productivity will improve, he explained.
“The global economy will also improve equally. This is an opportunity for us,” he remarked.
The domestic economy this year will improve, with growth rising to 4.7–5.5 percent this year from 3.2–4.0 percent last year, he projected.
“In this case, economic sources will be more equal. Last year, economic consumption had not improved. For this year, it is estimated that it will grow 4.3–5.1 percent,” he noted.
In addition, the government, including BI, will continue to bolster the capacity of micro, small, and medium enterprises (MSMEs), he said.
BI is conducting mentorship and forming clusters for the purpose of improving their economic scale and capacity, he added.
“I always wear MSMEs products such as batik and tenun (woven)fabric,” the BI governor said.
In terms of marketing, in addition to encouraging MSMEs to utilize digital marketing, BI is actively promoting batik products at various exhibitions abroad, he informed.
“We bring products from Central Java’s MSMEs to Osaka and Singapore. Every year, we hold Indonesia Creative Work. However, MSMEs need to improve their entrepreneurial skills such as production, marketing, and finance,” Warjiyo said.
Source: Antara News