As of 14 Dec. 2022, the 2022 State Budget deficit accounted for 1.22 percent of gross domestic product, lower than the initial target and projection.

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In short, the domestic economy is not free from the impact of a world recession, although it will not be so significant. Economic growth can still be maintained in the range of 5 percent this year.

The government needs to continue to monitor the global condition and anticipate the worst that could happen at any time. It is necessary to simulate a variety of possible scenarios, from the best to the worst.

In Indonesia’s financial system, banks play a large role in providing 77 percent of total loans, with the rest coming from pension funds, insurance, financial institutions, cooperatives, and others.

The government has set the deficit in the 2022 draft state budget (RAPBN) at 4.85 percent of gross domestic product (GDP).

Indonesia continues to strengthen its economic diplomacy to support the country’s recovery efforts in the midst of the COVID-19 pandemic.

The digitization of MSMEs would have a positive impact not only on local communities, but also on the image of domestic brands.