Indonesia’s economy picked up speed in the fourth quarter thanks to higher public spending, suggesting President Joko Widodo is finally starting to unclog much needed infrastructure investment and spur growth in the year ahead.
South-East Asia’s largest economy grew 5.04% in October-December from a year earlier, supported by government spending, gross domestic product data from the statistics bureau showed on Friday.
That was above the 4.74% in the third quarter, but a collapse in prices for Indonesia’s main commodities and cooling growth in major trading partner China drove full-year growth to 4.79% - the slowest since the global financial crisis.
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South-East Asia’s largest economy grew 5.04% in October-December from a year earlier, supported by government spending, gross domestic product data from the statistics bureau showed on Friday.
That was above the 4.74% in the third quarter, but a collapse in prices for Indonesia’s main commodities and cooling growth in major trading partner China drove full-year growth to 4.79% - the slowest since the global financial crisis.
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