Asia

Indonesia Q3 GDP growth at 5.47%, beats expectations

Indonesia has contended with weaker investor sentiment this year amid heightened scrutiny of the government’s fiscal plans and its broader policy directions.

Read a summary of this article on FAST.

Get bite-sized news via a new
cards interface. Give it a try.

Click here to return to FAST
Tap here to return to FAST

FAST

JAKARTA: Indonesia’s economy expanded 5.47 per cent in the third quarter from a year earlier, official data showed on Thursday (Nov 5), faster than the 5.18 per cent forecast in a Reuters poll.

Indonesia’s economic growth in the second quarter stood at 5.29 per cent.

Southeast Asia’s largest economy has contended with weaker investor sentiment this year amid heightened scrutiny of the government’s fiscal plans and its broader policy directions, as well as lingering downgrade risks on its stock market.

Growth was supported by sectors such as manufacturing, including the processing of palm oil to produce fuel as Indonesia expanded its mandatory biodiesel programme, the statistics bureau said.

The 2026 state budget projects economic growth of 5.4 per cent, although finance minister Suahasil Nazara has said it could slightly exceed that target and reach 5.5 per cent this year.

The target falls within Bank Indonesia’s GDP growth outlook range of 4.9 per cent to 5.7 per cent. At its meeting last month, the central bank said the domestic economy remained resilient but required further strengthening.

President Prabowo Subianto, who took office two years ago, aims to lift economic growth to 8 per cent by 2029.

Source: Reuters/lk

Sign up for our newsletters

Get our pick of top stories and thought-provoking articles in your inbox

Get the CNA app

Stay updated with notifications for breaking news and our best stories

Get WhatsApp alerts

Join our channel for the top reads for the day on your preferred chat app

Get bite-sized news via a new
cards interface. Give it a try.

Click here to return to FAST
Tap here to return to FAST

FAST