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Indonesia's Economic Growth 2019 is Resilient at Moderate Numbers of 5.02%

Jakarta, 06/02/2020 MoF - Indonesia's economic growth in 2019 will remain resilient amid the slowing performance of the world economy at 5.02%. This growth was supported by domestic demand that remained positive while export performance declined.
 
Maintained domestic demand, influenced by stable household consumption which grew 5.04% in 2019. It is not much different from the previous year of 5.05% as quoted from the Bank Indonesia (BI) website.
 
Maintained household consumption is driven by controlled inflation and a positive level of consumer confidence. Household Nonprofit Institution (LNPRT) consumption increased from 9.10% in 2018 to 10.62%, driven by the positive impact of the holding of the 2019 Elections.
 
Domestic demand is also supported by investment that remains high, especially construction investment which grew 5.37%, not much different from the 2018 performance of 5.41%.
 
From the business field point of view, economic growth in 2019 will be driven mainly by the performance of business field services in the tertiary sector, particularly the communication and information sector, the financial and insurance services sector and other service sectors.
 
Overall developments in 2019 were achieved after in the fourth quarter of 2019 economic growth was recorded at 4.97% (yoy), slowing slightly compared to the previous quarter's growth of 5.02% (yoy). (nr/ds)