The World Bank is urging countries, including Indonesia, to focus on policy clarity in order to drive economic growth in the long term. This is particularly important given the limited fiscal and monetary measures that many countries are facing due to prolonged global uncertainty. Manuela Ferro, the World Bank’s vice president for East Asia and the Pacific, emphasized the importance of addressing policy uncertainty, especially as many countries will experience leadership changes this year.

Ferro highlighted the challenges in providing fiscal or monetary incentives for sustainable growth in the long term and underlined the importance of companies having clarity about the investment regime in which they operate. She noted that improving competition would attract more investors to economic activities. Upcoming elections in many countries, including Indonesia, will have major implications for policy direction and economic growth.

In Indonesia, Prabov Subjant was declared the winner of the recent election and will be sworn in this October alongside his vice president Jibran Rakabuming Rak, who is also a member of President Joko “Jokowi” Widodo’s family. The IMF has issued warnings about the need for countries to address escalating fiscal risks, including tight financing conditions and growing concerns about debt vulnerabilities. It is critical for countries to proactively manage these risks to ensure sustainable economic growth.

By Samantha Johnson

As a dedicated content writer at newspuk.com, I immerse myself in the art of storytelling through words. With a keen eye for detail and a passion for crafting engaging narratives, I strive to captivate our audience with each piece I create. Whether I'm covering breaking news, delving into feature articles, or exploring thought-provoking editorials, my goal remains constant: to inform, entertain, and inspire through the power of writing. Join me on this journalistic journey as we navigate through the ever-evolving media landscape together.

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