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...

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