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Jakarta Post

Government asks businesses to cooperate as global recession looms

  • Dian Septiari
    Dian Septiari

    The Jakarta Post

PREMIUM
Jakarta   /   Tue, November 19, 2019   /  07:58 pm
The Jakarta Post Image
Food for thought: Foreign Minister Retno LP Marsudi gives a press briefing on the achievements of her ministry’s 2018 program in Jakarta on Wednesday.(Courtesy of Foreign Ministry/-)

The government is encouraging businesses to contribute to the building of a resilient economy amid geopolitical challenges and a looming recession, asking them to work together to negotiate free trade agreements like the one with the European Union and a flagship initiative linking together a number of FTAs in the region. The world is currently experiencing an economic slowdown, Foreign Minister Retno LP Marsudi told members of the Indonesian Chamber of Commerce and Industry (Kadin) at a coordination meeting in Jakarta on Tuesday, citing an International Monetary Fund forecast that places global economic growth at a meager 3.2 percent this year. The IMF has also projected that around 90 percent of all countries including Indonesia will experience slower growth – in its 2019 World Economic Outlook published in October, the world monetary body slashed predictions of Indonesia&r...