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A NUMBER of countries experienced a recession last year. This is because economic growth has experienced several consecutive declines. These countries include Japan and England.
The International Monetary Fund (IMF) predicts that the global economic slowdown will continue this year. Several countries such as China and the United States (US) are also expected to continue their slowing trend.
“If you look at the IMF predictions, China and the US are slowing down this year compared to last year. Meanwhile, Europe is relatively stagnant,” said Executive Director of the Center of Economic Reform (Core), Mohammad Faisal to Republika, Sunday (02/18), 2024.
He said, based on IMF data, China, which grew at around five percent last year, will decline to around 4.5% this year. Then US economic growth, which was previously around two percent, is predicted to reach 1.6% in 2024.
“Basically, there is a slowdown in China and the US. So, it tends to be slower, some have entered the minus zone, such as the UK and Thailand,” he explained.
Faisal admitted that he had not seen in detail which other countries had the potential for a recession. However, he said, the possibility of the country entering the brink of recession remains. It is possible that certain countries will also experience a recession if you look at the current global slowdown.
“As is known, a number of countries whose economies are declining are Indonesia’s trading partners, so there are concerns that this will have an impact on this country,” he remarked.
Faisal also explained that this condition also has the potential to slow down the rate of economic growth in Indonesia through slowing exports. Core Indonesia, predicts the national economy will grow by around 4.9% to five percent this year. [sources/photo special]
