UNS – The Center for Fintech and Banking, a flagship research center at Universitas Sebelas Maret (UNS) Surakarta, discussed global, regional, and national economics and finance in 2024 through an international seminar held on Friday (8/3/2024). The seminar, themed “Economic & Finance Outlook 2024: What to Expect from the Global Economy 2024,” took place at the Ballroom of the Ki Hadjar Dewantara Building, UNS.

This seminar was part of the activities for UNS’s 48th Dies Natalis celebration in 2024, which adopts the theme “Dynamic Higher Education Transformation to Achieve Indonesia Emas 2045 Vision.”

Prof. Iftekhar Hasan from Fordham University, USA, served as the keynote speaker. Previously, he had just received the UNS Award for 2024, “Adikarya Anugraha Widyatama Upa Baksana.” During the event, he emphasized the importance of the seminar in providing perspectives, knowledge, and projections related to the economy and the financial sector in 2024. Understanding and forecasting the global economic landscape are crucial, especially in these uncertain times.

He explained that when studying the intricacies of the global economy, we find ourselves at a pivotal moment in history. The year 2024 presents a myriad of challenges and opportunities, each shaping the direction of a nation and individuals’ lives.

In this rapidly evolving world, characterized by technological advancements, geopolitical changes, and environmental issues, economic and financial prospects serve as a compass guiding us through difficult times towards prosperity. Prof. Iftekhar also outlined what can be expected in the global economy in 2024.

Firstly, there needs to be recognition of global economic resilience in the face of adversity. Despite the challenges posed by the Covid-19 pandemic and its lingering effects, many countries have shown remarkable adaptability and recovery. However, uncertainties remain, ranging from inflationary pressures to supply chain disruptions, highlighting the need for cautious fiscal and monetary policies.

Furthermore, the emergence of new economic powers and the revitalization of traditional economic powers contribute to a dynamic and interconnected global market. Sustainable growth in developing countries and innovation-driven growth in Western countries, fueled by innovation, collaboration, and competition, drive progress and prosperity on a global scale.

Moreover, the digital revolution continues to redefine industries and reshape the economic landscape. From fintech to e-commerce, technological advancements present limitless opportunities for growth and efficiency. However, these advancements also pose complex challenges, such as digital security and privacy issues, necessitating careful navigation and regulation.

As we navigate these complex dynamics, it is essential to recognize the interconnectedness of the global economy. Events occurring in one region affect various continents, highlighting the need for cooperation and solidarity in addressing shared challenges, whether it be climate change, trade disputes, or financial instability.

“In conclusion, the Economic and Financial Outlook for 2024 reflects optimism and caution. While there are many opportunities for innovation and growth, uncertainty still looms. This reminds us of the importance of foresight, resilience, and collaboration in facing the future,” Prof. Iftekhar said.

The seminar was moderated by the Chair of the UNS Fintech and Banking Center, Putra Pamungkas, M.Rech., Ph.D. Four speakers were present to provide various perspectives and explanations related to the Economic & Finance Outlook 2024.

These speakers included Dwiyanto Cahyo Sumirat, S.E., MIDEC, Head of the Bank Indonesia (BI) Solo Representative Office; Prof. Bruno Sergio Sergi from Messina University, Italy, and Harvard University, USA; Prof. Siong Hook Law from Universiti Putra Malaysia; and Dr. Herman Saherudin, Director of LPS Research Group.

Each speaker delivered insights to educate seminar participants about the Economic and Finance Outlook 2024. Dwiyanto Cahyo, for example, discussed topics related to economic updates and policy responses in Indonesia through Bank Indonesia. Humas UNS

Reporter: R. P. Adji

Editor: Dwi Hastuti