The Economy and Debt Ratings

The World Bank’s report, “Global Economic Prospects” January 2023, warns of the increasingly real risk of a global economic recession this year (Kompas, 12/1/2023).

KOMPAS/PRIYOMBODO

Aerial photo of the outer ring toll road (JORR) W2, at Pesanggrahan, South Jakarta, Friday (11/11/2022) evening. In 2023, the global economy is projected to grow only 1.7 percent, down from the initial prediction of 3 percent. While Indonesia's economy is still projected to grow by 4.8 percent.

While Indonesia’s economy is still projected to grow by 4.8 percent, it does not mean the country will be protected from the effects of a global recession or economic slowdown. The global economy is projected to only grow 1.7 percent, down from the initial prediction of 3 percent.