• Wed. Apr 17th, 2024

Navigating Uncertainty: The World Bank’s Advice for Sustainable Economic Growth

BySamantha Jones

Apr 4, 2024
World Bank calls on new governments to deliver policy stability for Economy

The World Bank is urging countries, including Indonesia, to improve policy clarity for businesses in order to drive economic growth sustainably. This advice comes at a time when many countries are facing limited fiscal and monetary measures due to prolonged global uncertainty. Manuela Ferro, the Vice President of the World Bank East Asia and Pacific, emphasized the importance of addressing policy uncertainty, particularly as many countries will be experiencing changes in leadership this year.

Ferro highlighted the challenges of providing fiscal or monetary stimulus to sustain growth over the long term and underscored the significance of businesses having clarity about the investment regime in which they operate. She suggested that implementing competition-enhancing policies would attract more investors into economic activities. The upcoming elections in many countries, including Indonesia, will have major implications for policy direction and economic growth.

In Indonesia, Prabowo Subianto has been announced as the winner of the recent polls and will be sworn in this October along with his running mate Gibran Rakabuming Raka, who is the eldest son of incumbent President Joko “Jokowi” Widodo. The International Monetary Fund (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 crucial for countries to proactively manage these risks to ensure sustainable economic growth.

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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