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?

Giving a too gloomy narrative will cause entrepreneurs to delay or stop investing and instead save their money in US dollars or gold, and this will further weaken the rupiah and the economy.

The latest developments of the Russo-Ukrainian war have a direct impact on global supply chain disruptions. In the short term, these conditions will mainly lead to an increase in energy and food prices.

The poor and vulnerable people spend most of their income on basic needs, especially food. Transportation costs that also move up, along with rising fuel prices, also erode purchasing power.

Most of the current global inflation is caused by the increase in energy and food prices. Therefore, controlling energy and food prices is one of the keys to curbing inflation.

Government officials must focus on anticipating food production and not be tempted to take advantage of the situation for personal gain.