JAKARTA :Indonesia's economic growth climbed to its strongest in nine years last year fuelled by revived spending from the lifting of pandemic restrictions and as a global commodity boom sent exports to a record high.
In the fourth quarter, gross domestic product expanded 5.01 per cent on an annual basis, compared with 4.84 per cent growth predicted by the poll and 5.72 per cent in the previous three months. The annual rate was the slowest since the third quarter of 2021, the statistics agency said. "Global commodity prices have dropped back since late last year, and we expect further falls over the coming months. Meanwhile, despite the rebound now underway in China, we expect global growth to struggle this year as the U.S. falls into recession."
Investment grew 3.87 per cent last year, similar to 2021's growth but is yet to return to pre-pandemic levels, the statistics bureau said.
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