Indonesia's GDP grows 5.5% in Q3, helped by government spending
Indonesia's economy expanded faster than anticipated in the third quarter, with growth reaching 5.47% year-on-year, data released on Thursday revealed. Exceeding expectations of 5.2% growth, the figure marked a significant acceleration from the 5.29% recorded in the previous quarter. The pace of growth slowed slightly from the 3.7% increase observed in the second quarter, with the economy expanding by 1.6% quarter-on-quarter, surpassing the earlier forecast of 1.3%.
Government statistics attributed the robust performance to a thriving manufacturing sector, particularly the processing of palm oil for fuel, as Indonesia ramped up its mandatory biodiesel program. The 2026 state budget anticipates economic growth of 5.4%, while Finance Minister Suahasil Nazara expressed optimism that growth could surpass the target, reaching 5.5% this year.
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- Indonesia Q3 GDP grows faster than expected at 5.47% investing.com
