Indonesia first-quarter growth boosted by election, holiday spending

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Indonesia Economy News

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JAKARTA, May 6 — Indonesia’s economic growth accelerated in the first quarter of 2024 on the back of election and religious holiday spending, official data showed...

If salary increase for civil servants is feasible, why would one suggest the budget for it might not be passed? — Hafiz Hassan

South-east Asia’s largest economy expanded 5.11 per cent, Statistics Indonesia said, the highest level for three quarters and slightly higher than the 5.04 per cent expansion in the same period last year. — AFP picJAKARTA, May 6 — Indonesia’s economic growth accelerated in the first quarter of 2024 on the back of election and religious holiday spending, official data showed tonday.

The economy was boosted by government spending ahead of the country’s presidential election in February and household spending in preparation for the holy month of Ramadan and Eid al-Fitr in April, acting Statistics Indonesia head Amalia Adininggar Widyasanti said.Government estimates had projected growth of 5.17 per cent but experts warned Jakarta’s official data might not be reliable to judge economic performance.

 

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