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Jakarta Post

Govt asks businesses to cooperate as global recession looms

  • Dian Septiari

    The Jakarta Post

Jakarta   /   Wed, November 20 2019   /  02:22 am

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 free trade agreements 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 Indone...