Government says global uncertainty has become the 'new normal'
Jakarta (ANTARA) - Deputy for the Coordination of State-Owned Enterprises Management and Development at the Coordinating Ministry for Economic Affairs, Ferry Irawan, stated that global uncertainty has now become a ‘new normal’, making the strengthening of governance increasingly important to maintain national economic resilience.
“We live amidst various uncertainties that may no longer be temporary, but have become a ‘new normal,’” Ferry said at the Risk and Governance Summit (RGS) 2026 in Jakarta on Tuesday.
He explained that geopolitical tensions, financial market volatility, and global supply chain disruptions have formed increasingly complex and interconnected risks. He cited the example of ongoing geopolitical developments between the United States and Iran, which could trigger spikes in world commodity prices, alter global interest rate expectations, and impact countries with open economies like Indonesia.
Despite these pressures, Ferry expressed confidence that Indonesia’s economic fundamentals remain resilient. He pointed to projections from the International Monetary Fund (IMF) maintaining Indonesia’s economic growth at 5 percent, alongside similar forecasts from the Asian Development Bank (ADB) of 5.2 percent. “This is a positive signal that Indonesia’s economic fundamentals remain strong despite a highly dynamic global environment,” he said.
To maintain this resilience, Ferry emphasized that the government is continuing to strengthen market integrity and trust through enhanced governance, financial market deepening, and financial sector reform. These reforms include the expansion of Local Currency Transactions (LCT), the development of a national bullion ecosystem, improvements in financial literacy and inclusion, and increased financing for productive sectors.
Furthermore, the government is bolstering the governance of natural resources by refining the export proceeds (DHE) policy, while also driving digital transformation, the green economy, and artificial intelligence as new engines of growth. At the international level, Ferry noted that Indonesia is expanding economic cooperation through various forums, including the OECD, BRICS, ASEAN, and the Indo-Pacific Economic Framework (IPEF), to strengthen the nation’s economic resilience against persistent global uncertainty.