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Indonesia's GDP grew 5.31% in 2022, hitting 9-year high

Economic growth back to pre-COVID level but global slowdown weighs on 2023 outlook

Containers at the Tanjung Priok port in Jakarta on Aug. 3, 2022. Indonesia's economy last year grew at the fastest pace since 2013.   © Reuters

JAKARTA -- Indonesia's economy grew 5.31% in 2022 from a year earlier, government data showed on Monday, highlighting that Southeast Asia's largest economy has now returned to a pre-pandemic economic growth path as the government eased COVID restrictions and businesses got back into gear.

The growth rate of last year's gross domestic product was the highest in the past nine years and accelerated from a 3.69% expansion in 2021. Indonesian President Joko "Jokowi" Widodo had previously forecast growth of 5.2% to 5.3% for 2022.

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