Anticipation Of SOES Facing Recession Year
Another thing to watch out for is the global economic recession that has already occurred and has had a negative impact on corporations, including SOEs. This recession occurred as a result of the weakening economy in the US, China and Europe which led to a decline in the demand side and an increase in inflation, as well as the weakening of the Rupiah exchange rate. Commodity prices that have skyrocketed in the last two years could be affected by weaker demand next year. Likewise, state companies that rely on imports of raw materials and dominant domestic sales will be threatened by exchange rate fluctuations. So, the effort to minimize mass risk by using a hedging process is very important.
We are still optimistic that Indonesia will enter a small number of countries that can still grow amidst the gloomy world economy ahead. Economic growth is still optimistic that it can be achieved in the range of 5 per cent in 2023. This opportunity should be used by SOEs to continue to improve and increase competitiveness in order to be able to compete in the global market.
Optimism formed on business matching on the sidelines of the SOEs international conference in Bali must be capitalized quickly. Likewise, other big business opportunities such as IKN development projects can be utilized by SOEs in collaboration with partners. With fast steps and optimal agility, it is hoped that state enterprises will soon emerge as one of the frontline economic locomotives.