Holiday Ayo - General Chair of the Association of Indonesian Economic Scholars who is also Governor of Bank Indonesia (BI) Perry Warjiyo conveyed five challenges that Indonesia will face.

Perry conveyed this in front of President Joko Widodo (Jokowi) at the 2024 ISEI National Seminar.

Perry explained that the first challenge is changes in the financial economic cycle which are increasingly rapid and pose a risk of creating vulnerabilities.

In this case, he said that public policy and macroeconomic stability needed to be maintained.

"We continue to discuss these challenges. We see five strategic challenges going forward. Firstly, changes in the financial economic cycle are becoming increasingly rapid and are at risk of creating vulnerabilities. That's why public policy needs to maintain macroeconomic stability," said Perry, broadcast on YouTube PP ISEI, Thursday (19/9).

The second challenge is the shift in the pattern of sources of world economic growth from the United States to other countries.

He believes that Indonesia needs to carry out downstream and structural reforms related to this matter.

"Second, a shift in the pattern of sources of economic growth from the United States to China, Indonesia and India. That is why downstream and structural reforms need to be carried out," he added.

Third, demographic changes in developed countries with increasingly aging populations. Meanwhile, Indonesia's demographics are dominated by millennials.

This is related to the fourth challenge, namely the rapid development of digitalization. Perry reminded the need to develop digitalization for future generations

"The third is demographic change which is getting older in developed countries, but millennials in our country. That is one of the reasons why digitalization needs to be encouraged for our future generation," he explained.

Fifth, challenges related to inclusion and the green economy. Perry said ISEI's presence played a role in providing policy input. 

"Fifth is green economic inclusion for MSMEs. Therefore, ISEI is there to provide policy input. With various dynamic challenges from time to time, ISEI responds by strengthening its strategic role for resilience and encouraging economic growth," he concluded.