"There's nothing to suggest that there's a recession in the works," she said during an interview at The New York Times' economic forum.

The intergovernmental organization notes that while domestic demand is recovering as pandemic restrictions are lifted, rising inflation is depleting consumers' purchasing power.

The city of 25 million underwent a stuttered lockdown from late March and was then fully sealed off for around two months, as China tightly adheres to a zero-Covid approach to fight the outbreak.

Dubbing the fast-food chain's decision "crazy", centre-left leader Anthony Albanese quipped the situation had become a national "crisis".

China is the last major economy wedded to a zero-COVID policy, using rapid lockdowns, mass testing and strict movement restrictions to eliminate outbreaks -- but it has tangled supply chains and dragged economic indicators to their lowest levels in around two years.

In a wide-ranging assessment of how global macroeconomic developments impact the East Asia and Pacific region, the World Bank sees Indonesia benefiting from its position as a major commodity exporter.

The toxic combination of weak growth and rising prices could trigger widespread suffering in dozens of poorer countries still struggling to recover from the upheaval of the COVID-19 pandemic.

The number of foreign arrivals more than doubled in April, but that does not mean the sector is out of the woods as risks still exist.

Deputy Finance Minister Suahasil Nazara said strong spending and exports would prop up economic growth.

Pressure has been rising for the 23-strong group to boost output further to try to stabilize prices, which have hit record highs since Russia invaded Ukraine, drawing heavy Western sanctions.

Statistic Indonesia’s (BPS) consumer price index was up 3.55 percent in May, marking the fastest annual rise since December 2017.

The foot-and-mouth disease outbreak in Indonesia is expected to cause approximately US$1.37 billion in annual losses to the national economy.

Getting one’s hands on a two-wheeler has just gotten harder as customers must contend with long delivery times like never before. Caught up in the global semiconductor shortage, many producers are failing to meet demand.

Although the global economy is in troubled waters, Indonesia's economy is buoyed by strong commodity exports, putting the country in a favorable position among emerging markets, research by Moody’s Analytics suggests.

The decision comes after the government last week said it would test allowing small group tours with visitors from the United States, Australia, Thailand and Singapore from this month.

Pakistan witnessed an extreme heatwave this month, with temperatures in the south crossing 50 degrees Celsius (122 degrees Fahrenheit). The south Asian nation had jumped from winter to summer without experiencing a spring, according to the country's Climate Change Ministry.

Speaking at a regular press briefing, ministry spokesman Wang Wenbin said the Indo Pacific Economic Framework for Prosperity (IPEF) serves US interests and seeks to exclude other countries.

Indonesia, which holds the world’s largest geothermal reserves, is aiming to have a total of 3.35 gigawatts (GW) of geothermal power production capacity by 2030.

The Swiss government and the Indonesian Investment Coordinating Board (BKPM) have signed an investment promotion and protection agreement (P4M) to boost trade and investment between the two countries.

The world's largest sugar producer and number two exporter after Brazil said on Tuesday that shipments would be limited to 10 million tonnes for the current marketing year to September.

Indonesia's senior economic minister met with his Qatari counterpart on the sidelines of the WEF in Davos to ink the deal and discuss future investment projects.

Sharply rising prices are hitting older people the world over as global supply problems caused by the pandemic -- and made worse by the Ukraine war -- propel food and fuel costs higher.

The Southeast Asian nation is the latest country to curb food exports as prices surge, after India banned wheat shipments and Indonesia temporarily halted palm oil exports.

Bank Indonesia (BI) acknowledged that inflation may rise above its target range of 2 to 4 percent.

With euro zone inflation at a record high and broadening, the central bank is accelerate a policy turnaround from all but ruling out a rate hike this year to now penciling in several.

Economists say rising consumer prices disproportionately affect low-income families and are urging the government to protect them as inflation continues to bite.

While tens of millions of Indonesians jumped at the opportunity to visit their family homes for Idul Fitri earlier this month after a two-year hiatus, the younger generation is open to parting with the tradition for the holiday break.

Operating conditions for Indonesian banks are returning to normal after pandemic-related disruption, according to financial services firm Moody’s

The Australian Bureau of Statistics on Thursday showed the jobless rate held at 3.9 percent.

China, the last major global economy sticking to a rigid zero-Covid policy, is contending with an economic slump due to prolonged virus lockdowns which have constricted supply chains, quelled demand and stalled manufacturing.