Publication: Indonesia Economic Prospects, June 2024: Unleashing Indonesia’s Business Potential
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2024-06-24
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2024-06-24
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At 5.1 percent in Q1-2024, GDP growth remains resilient surpassing the middle-income countries’ average. Robust private consumption accounted for 57 percent of GDP growth. This reflects consumer confidence supported by softening inflation in nonfood products, the hike in civil servant wages, and robust performance in consumer services. Public consumption rebounded in Q1-24 driven by election related and social spending. This rebound outweighs the negative contribution to growth of net exports as weak global demand and commodities price volatility have dampened exports earnings.
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“World Bank. 2024. Indonesia Economic Prospects, June 2024: Unleashing Indonesia’s Business Potential. © World Bank. http://hdl.handle.net/10986/41764 License: CC BY-NC 3.0 IGO.”
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