Sri Mulyani Reveals Global Economic Conditions for 2024 Debt, US and China Debt

JAKARTA – The Committee for the Stability of the Financial System (KSSK) estimates that in 2024 the growth of the global economy will weaken even more compared to the previous year.

The finance minister released this assessment based on the latest World Bank global economic growth forecasts or the World Bank's Global Economic Outlook.

“The World Bank estimates that the global economy will slow from 3% in 2022 to just 2.6% in 2023 and weaken again by 2.4% in 2024,” Sri Mulyani said at a press conference on the results of the KSSK I meeting in in 2024. in Jakarta, Tuesday, January 30, 2024.

In addition to the weakening of the global economy, Sri Mulyani said that the economic pace among countries with large economic capacity is experiencing a growth gap.

Sri Mulyani pointed out that as the US economy grows strongly in 2023, the main risks are fiscal pressures, especially the burden of debt interest payments and the debt ratio.

Economic conditions in Europe are weakening.

“Similarly, China's economy continues to slow due to the crisis in the real estate sector. The Hong Kong court has also just announced that Hong Kong real estate giant Evergrande has been declared bankrupt,” said Ujar Sri Mulyani.

In addition, China also faces debt pressures, especially from local governments at the provincial level.

China's economy was slowing down.

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