TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Jakarta economy slows slightly

  • News Desk

    The Jakarta Post

PREMIUM
Jakarta   /   Fri, July 5, 2019   /  08:37 pm
The Jakarta Post Image
Vendors tend to their stalls at Senen Market in Central Jakarta on Wednesday.(Antara/Nova Wahyudi)

Jakarta’s economy has sustained stable growth in this year’s first quarter, thanks to low inflation, decreasing unemployment, higher human development and new payment systems introduced by financial technology (fintech) firms. The city booked year-on-year (yoy) growth of 6.23 percent, slightly down from 6.41 percent in the final quarter of last year but higher than the national figure of 5.28 percent, according to the Jakarta chapter of Bank Indonesia (BI DKI). The relatively stable growth rate was underpinned by household spending, which grew 5.85 percent yoy. BI DKI also noted the economic effect of recent political events, with large spending on campaign equipment and political consultancy services in the run-up to the general election. High demand of trucks from mining and plantation companies from across the country also fueled economic activity in the ca...