Strategic review of the impact of the Russia-Ukraine war on Indonesian national economy
Indonesian Naval Technology College, STTAL Surabaya, Indonesia.
Review Article
Global Journal of Engineering and Technology Advances, 2022, 12(03), 001–008.
Article DOI: 10.30574/gjeta.2022.12.3.0148
Publication history:
Received on 24 July 2022; revised on 29 August 2022; accepted on 31 August 2022
Abstract:
The tension between the two countries between Russia and Ukraine will have a detrimental impact on the global economy and disrupt the recovery process of the world economy, including Indonesia. Global economic growth will slow down if peace efforts between the two countries do not take place immediately, the impact of the conflict between Russia and Ukraine as well as European Union sanctions against Russia can occur through several transmissions including a spike in commodity prices, a spike in energy prices and a supply chain shock, this will have an impact on the economy. including the Indonesian economy, which is currently still experiencing the impact of the Covid-19 pandemic. The main purpose of this research is to get answers about the impact of the Russian-Ukrainian war on the Indonesian national economy. This study uses descriptive qualitative research methods, namely research methods based on the philosophy of post positivism, data collection techniques are carried out by triangulation and summarizing various conditions, and situations from various data collected in the form of interviews, literature studies, and observations in the field. The results obtained are that in the current conflict between Russia and Ukraine, global inflation can occur because the first target of the conflict is the obstruction of global supply chains, thus disrupting the ongoing global economic recovery. Global economic growth will be significantly contracted, the rest will result in sloping consumption and investment due to disruption of international flows of goods and services so that the export-import and economic commodity sectors experience declining performance and have a significant impact on the Indonesian economy.
Keywords:
Strategic Review; Russia-Ukraine War; Global; Indonesian Economy
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