Indonesia’s Economy Stuck with 5 Percent Growth Rate

Household spending as one component of overall economic growth only grew by 2.73 percent last year, far down from the rate of 5.04 percent seen in 2009.

Kompas/Raditya Helabumi

President Joko Widodo giving a speech when opening the Kompas 100 CEO Forum which carried the theme Economic Macro Policy 2018 to Maintain Quality Growth in Jakarta, Wednesday (29/11).

JAKARTA, KOMPAS—The Indonesian economy grew by 5.02 percent in 2019, the lowest rate since 2016. The economic growth trend, which had pointed upward between 2015 and 2018, has changed direction. Indonesia has not managed to break out from the 5 percent growth rate.

In 2015, Indonesia\'s economy grew 4.88 percent. That growth rate increased consecutively in 2016, 2017 and 2018 to 5.03 percent, 5.07 percent and 5.17 percent respectively.