Enrico Tanuwidjaja: Bracing for Global Recession and Inflation

In this episode, our host Gundy Cahyadi talks to Enrico Tanuwidjaja, Head of Economics & Research at UOB Indonesia. Enrico is a specialist on the Indonesian economy and the two discussed about the state of the economy in the midst of global recession and inflationary fears.

Enrico expects the Indonesian economy to slowdown slightly in 2023 but still showing decent economic growth, especially considering how several developed economies have slipped into a technical recession. Windfalls from high commodity prices have bolstered the economy, not only from higher export earnings but also from the secondary impact on domestic demand.

Indonesia is also seen to be relatively safe, despite concerns over global financial market volatility. This is due to a pretty good current account surplus position, something that wasn't the case back in 2008 or 2013 crisis. Indeed, Enrico noted that the rupiah is still among the better performing currencies in the region.

Looking further ahead, the two also discussed about Indonesia's medium-term economic challenges, from the dilemma of fuel subsidies to the state of the manufacturing sector.

You can listen to their discussion "Bracing for Global Recession and Inflation" in Off The Script, a podcast series presented by Katadata Podcasts, on our official website, Spotify, Noice, Apple Podcast, and Google Podcast.