World Bank calls on new governments to deliver policy stability for Economy

The World Bank has advised countries, including Indonesia, to improve policy clarity for businesses in order to drive economic growth. This is particularly important as many countries face 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 significance of addressing policy uncertainty, especially as many countries will be experiencing changes in leadership this year.

Ferro highlighted the challenges in providing fiscal or monetary stimulus to sustain growth over the long term and stressed the importance of businesses having clarity about the investment regime in which they operate. She also mentioned 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 was recently announced as the winner of the General Elections Commission polls and will be sworn in this October along with his running mate Gibran Rakabuming Raka, the eldest son of incumbent President Joko “Jokowi” Widodo. 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 crucial for countries to proactively manage these risks to ensure sustainable economic growth.

By Aiden Johnson

As a content writer at newspoip.com, I have a passion for crafting engaging and informative articles that captivate readers. With a keen eye for detail and a knack for storytelling, I strive to deliver content that not only informs but also entertains. My goal is to create compelling narratives that resonate with our audience and keep them coming back for more. Whether I'm delving into the latest news topics or exploring in-depth features, I am dedicated to producing high-quality content that informs, inspires, and sparks curiosity.

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