JAKARTA: As technological disruption and Covid-19 pandemic persists throughout the globe, war in Ukraine adds another uncertainty to the global economy, Indonesian President Joko Widodo said.
These series of events have contributed to shortage of food and energy, inflation, and rising cost of production.
“The surge in freight rates is likely to push up food and consumer prices,” the president said at Indonesian National Military and Indonesian National Police Leadership Meeting here today.
Joko Widodo pointed out that inflation is driving up prices of everyday items in all countries, while war in Ukraine is driving up energy prices including oil.
“Before the war, the oil price went up because of the supply shortage. Now, the price went up again above US$100, which was previously only between US$50 and US$60,” he said.
Last Thursday, Russian President Vladimir announced a special military operation in the Donbas region, eastern Ukraine.
Following that, Ukraine’s president Volodymyr Zelenskyy declared a state of emergency throughout the country.
On Feb 17, Jokowi urged G20 member countries to end tensions, such as what is happening in Ukraine, which will only disrupt global economic recovery from the COVID-19 pandemic.
He instead called G20 to focus on synergies and to work together so that it can quickly rise and recover.
Indonesia holds the presidency of the G20 for the period of 2022. – Bernama
