Jakarta (VNA) Indonesia is a bright spot of the global economy amid risks of economic contraction facing many countries in 2022, Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva has said.

Talking to Indonesian Finance Minister Sri Mulyani on October 12, the IMF leader said the archipelago nation has achieved fast growth thanks to political stability and a solid economic foundation.

She also mentioned the global economy’s latest developments and expressed concern about risks for many countries in the time ahead. She held that it is necessary to devise a mechanism for minimising recession risks if the global economic strength continues to be eroded.

Minister Sri Mulyani said Indonesia will continue actively supporting the building of plans and concrete steps to minimise risks of a multi-crisis, adding that its economy is still relatively healthy and safe amid recession risks.

The official noted that Indonesia posted an economic growth rate of 5.4% in the second quarter while inflation is still under control, at 5.95% - lower than the forecast of 6.8%.

Meanwhile, Coordinating Minister for Economic Affairs Airlangga Hartarto said on October 11 that despite geopolitical tensions and the worsening energy crisis, the Indonesian economy is expected to grow by at least 5.2% this year.

It has recorded strong investment inflows, including both domestic and foreign investment, he noted, citing statistics as showing that the capital rose 35% to 302 trillion rupiah (about 19.6 billion USD) in Q2, which was a good sign as the economy is recovering after the COVID-19 pandemic./.