Various circles predict the potential for a global recession to occur in 2023, which will certainly affect world economic growth, including Indonesia. For this reason, countries are competing to find ways to be safe from the threats of financial instability. Data from the Central Statistics Agency (BPS) for December 2022 stated that Indonesia's trade balance experienced a surplus of US$3.89 billion with an export value of US$23.83 billion and an import value of US$19.94 billion. This figure is considered quite positive for Indonesia, which means that the global economic slowdown has not yet been seen in the country. However, Indonesia cannot be complacent. This data is only a calculation until the end of December 2022. This means that what will happen in the first quarter of 2023 cannot be calculated. In the midst of geopolitical uncertainty, climate change and disasters, as well as crises in the food, energy and financial sectors, a special formulation is needed as a form of anticipation for economic stability in 2023.

One of the ways that the government relies on to deal with global conditions is by enacting and issuing Government Regulation in Lieu of Law (Perppu) Number 2 of 2022 concerning Job Creation for urgent needs. The Perppu was signed by President Joko Widodo (Jokowi) on December 30, 2022 with the consideration of providing legal certainty. There are two things that are the main considerations, namely urgency forcing and to secure foreign exchange. The Coordinating Ministry for the Economy noted the pressing urgency related to efforts to mitigate the risk of uncertainty. Indonesia's main trading partners are America and Europe, which are currently experiencing uncertainty due to the unfinished Ukrainian-Russian war. On the other hand, America is increasing interest rates which have the potential to encourage capital flight, thereby risking causing inflation. The second factor is to secure foreign exchange from exports, where all countries are fighting over the US Dollar. The issuance of the Job Creation Perppu basically aims to expand employment, reduce unemployment and target entry into Indonesia. Apart from that, Indonesia also needs legal certainty as soon as possible after the Job Creation Law was declared conditionally unconstitutional by the Constitutional Court in 2021 and must be corrected for the next 2 years.

Source: https://www.antaranews.com/berita/3371478/optimism-pemberapan-investasi- passed-perppu-cipta-kerja