Indonesia 2022 GDP growth races to 9-year high on resource boom

A woman poses with the newly set up logo of the Association of South-East Asian Nations (Asean), as Indonesia officially assumes the group's chairmanship following a ceremony in Jakarta on January 29, 2023. - AFP

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.

Southeast Asia's largest economy gained from high global commodities prices in the aftermath of the Russia-Ukraine war that aided the rupiah and improved the country's current account. But growth momentum slowed in the final quarter as prices moderated and weaker global demand, high inflation and a rise in interest rates could pose a drag on activity this year.