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Indonesia’s GDP up by 5.72% in Q3

Indonesia has recorded the fastest growth in more than a year in Q3 of this year at 5.72%, but below market expectations. Economists earlier expected the gross domestic product in the July-September quarter to be 5.89% bigger than the same period last year. The Q2 growth rate was 5.44% on a yearly basis. The GDP expanded 1.81% from the previous three months, compared with the earlier forecast of 1.62%. Indonesia has been enjoying an export boom for more than a year due to high commodity prices, with 2022 export earnings expected to be the country’s largest ever. Finance Minister Sri Mulyani Indrawati has said that the government would work to maintain Indonesia’s position as a relative “bright spot”, but warned that domestic economic activities could be affected by a potential global recession.

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