Global economic growth in 2023 was relatively low and shadowed by inflationary pressures,
geopolitical factors, and the threat of climate change. Strategic competition between the United
States and China, the Russia-Ukraine, and the Middle East conflicts, as well as tensions in the
South China Sea have been and will still be sources of uncertainty in the next few years.
However, several international organizations remain optimistic and predict that Indonesia's
economic growth will be above the world average. Several factors that should be considered
include external pressures due to high world interest rates, China's economic slowdown and the
government's fiscal discipline. To spur high and sustainable economic growth, economic reform
is needed, including adjusting fuel subsidies to encourage energy transition.