Indonesian Economic Growth Rises to Nine-Year High

But it still maintained its annual rise from pandemic lows after expanding 3.69 percent in 2021 as coronavirus cases started to decline and export prices for key commodities like palm oil, coal and nickel rose significantly.

Also read: Indonesia’s Economy Grows 5.01 Percent in First Quarter

The country's economic growth is expected to slow slightly this year despite the recovery, according to economists.

"Further weakness is likely as weak global demand, high inflation and elevated interest rates drag on activity," said Gareth Leather, senior Asia economist at Capital Economics.

"We expect growth to slow further over the coming quarters."

Source: Agence France-Presse