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Indonesia’s growth hit record high in nine years

Indonesia grew 5.31% in 2022 from a year earlier, the highest in the past nine years.
Indonesia’s growth hit record high in nine years ảnh 1A corner of Jakarta (Photo: Xinhua/VNA)
Jakarta (VNA) – Indonesia grew 5.31% in 2022from a year earlier, the highest in the past nine years.

The source of growth from the expenditure side is householdconsumption, Margo Yuwono, head of Statistics Indonesia, told reporters at anews conference on February 6. The improvement in income boostedconsumption in the transport, communication, and restaurant-hotelsectors, he added.

The official emphasisedthat these indicators show that Indonesia's economy grew steadily last year.

According to him, the nation recorded a high growth thanks tohigh export prices and the lifting of travel restrictions, including thecancellation of the quarantine requirement in March 2022, which has boostedbusiness activities and tourist arrivals.

Yuwono affirmed that the reopening of most internationalairports has bolstered people's economic activity. In the first half of 2022, Indonesiahosted more than 740,000 visitors, an annual increase of more than 900%.

The country's GDP in the fourth quarter alone showed ayear-on-year growth rate of 5.01%, slowing from 5.72% in the third quarter./.
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