Deputy Minister of Finance II, Thomas Djiwandono, claimed ASEAN has proven its economic resilience. The region’s economic growth is said to have surpassed the global average, with a 3.6 percent contribution to the world’s GDP.
"ASEAN's economic growth in 2024 is projected to be the highest in the world, reaching 4.5 percent, while global economic growth is projected at 3.2 percent," said Thomas in his remarks at the inauguration of the ASEAN Treasury Forum on Thursday, October 3, 2024, in Bali.
Thomas said the ASEAN economy has survived many crises over the years, a testament to its resilient nature, rooted in its ability to adapt. Starting from the Asian financial crisis in 1997, the global economic crisis in 2008, to the crisis during the COVID-19 pandemic.
"Over the past two decades, ASEAN has earned a global reputation for its (economic) resilience," said Thomas.
In addition, Thomas also said that ASEAN has drawn attention from global investors. He claimed, based on the data, a total of 17 percent of foreign direct investment (FDI) entered ASEAN in 2022. This makes ASEAN one of the highest recipients of FDI compared to other developing regions.
In the future, Thomas said, it is necessary for ASEAN countries to continue strengthening regional resilience and connectivity to achieve long-term economic development. Therefore, Thomas believes there is an urgent need for ASEAN member countries to align regional financial policies.
Source: Tempo.co
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<p>Time: 2024 By: Ministry of Industry and Trade</p>
