Stronger consumption, investments lift GDP

Growth spurt: Farmers planting rice near Banda Aceh, Indonesia. Private consumption contributed 54% to the country’s GDP last year. — AFP

JAKARTA: Indonesia’s gross domestic product (GDP) growth has exceeded expectations on the back of stronger household spending and investment, but there are signs of weakness in exports amid lower global prices for key Indonesian commodities.

Indonesia’s economic growth was “still solid”, considering the “abnormal situation full of uncertainty” in the world, Coordinating Economic Minister Airlangga Hartarto commented on the 2024 GDP data in a press briefing on Wednesday.