According to the latest statistics released by the Indonesian Central Statistics Agency, Indonesia's economic growth rate reached 5.11% in the first quarter of 2024, an increase from 5.04% in the fourth quarter of 2023.
Statistics reveal that since 2019, Indonesia's first-quarter economic growth has not reached such a peak, when the year-on-year growth rate was 5.07%.
The chief representative of the Central Statistics Agency, Amalia, mentioned that the economic expansion in the first quarter of this year was driven by the two pillars of consumption and investment, contributing 2.62% and 1.19% to economic growth respectively. During this quarter, Indonesia experienced the general election and celebrations marking the end of Ramadan, events that significantly boosted consumption levels. At the same time, government spending also increased.
According to further news, thanks to the advancement of the new capital construction project, Indonesia's Kalimantan Island achieved an impressive economic growth rate of 6.17% in the first quarter of 2024.
Amalia also noted that compared to several other major trading partner countries, Indonesia's 5.11% economic growth rate in the first quarter surpassed those of the United States, Japan, Malaysia, and Singapore, but still lagged behind those of China and India.
Indonesian Finance Minister Sri Mulyani stated on the same day that the first-quarter economic data shows that amid the current highly uncertain global economic environment, the Indonesian economy still maintains its stability and resilience.
News Source: China News Service Jakarta
According to the latest statistics released by the Indonesian Central Statistics Agency, Indonesia's economic growth rate reached 5.11% in the first quarter of 2024, an increase from 5.04% in the fourth quarter of 2023.
Statistics reveal that since 2019, Indonesia's first-quarter economic growth has not reached such a peak, when the year-on-year growth rate was 5.07%.
The chief representative of the Central Statistics Agency, Amalia, mentioned that the economic expansion in the first quarter of this year was driven by the two pillars of consumption and investment, contributing 2.62% and 1.19% to economic growth respectively. During this quarter, Indonesia experienced the general election and celebrations marking the end of Ramadan, events that significantly boosted consumption levels. At the same time, government spending also increased.
According to further news, thanks to the advancement of the new capital construction project, Indonesia's Kalimantan Island achieved an impressive economic growth rate of 6.17% in the first quarter of 2024.
Amalia also noted that compared to several other major trading partner countries, Indonesia's 5.11% economic growth rate in the first quarter surpassed those of the United States, Japan, Malaysia, and Singapore, but still lagged behind those of China and India.
Indonesian Finance Minister Sri Mulyani stated on the same day that the first-quarter economic data shows that amid the current highly uncertain global economic environment, the Indonesian economy still maintains its stability and resilience.
News Source: China News Service Jakarta
