When the world economy faces uncertainty, domestic consumption is the mainstay. The Indonesian economy can still be exploring at a speed of about 5 percent in facing this uncertainty.

Central banks in many countries have adopted “don't rock the boat” strategies. Indonesia and Canada, were among the countries that decided not to change their interest rates at the end of February-early March.

It is necessary to prepare an adequate budget both to maintain food production and to intervene in the market. The fiscal burden of managing food inflation may increase but the positive effect will be significant.

BI will continue to anticipate the impact of the monetary tightening policy in the US by maintaining the stability of the rupiah exchange rate so that the imported inflation will not affect the domestic economy.

The hope is for a world recession, if it happens, to grow slowly rather than a sharp contraction. Perhaps inflation will remain above the normal average.

As long as the government is able to realize its commitment to an open economy, I am sure that inflation expectations of economic players in Indonesia will fall and be low.

Indonesia has been successfully meeting the challenges of 2022 in terms of the global economy and the G20 presidency. The IMF is confident that Indonesia will continue towards prosperity.

What is going on in the global economy, and how can Indonesia prosper in such a difficult environment?