Jakarta: Bank Indonesia (BI) is strongly optimistic that the country is capable to continue its gross domestic product (GDP) growth momentum this year.
"In the future, BI is committed to monitor macroeconomic stability which is the main foundation of our economic growth," BI spokesperson Agusman said in a written statement on Wednesday, February 6, 2019.
In the fourth quarter of 2018, Indonesian economy grew by 5.18 percent. The growth was slightly stronger than earlier expectations.
Last quarter, the household consumption grew by 5.08 percent. It was mainly influenced by rising purchasing power, stable inflation and strong consumer confidence.
Besides that, the Non-Profit Institutions Serving Households (LNPRT) consumption grew by 10.79 percent. It was primarily influenced by stronger domestic demand, stronger investment growth and election campaign activities.
"Our export growth was lower due to global economic slowdown," he added.