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Economy

Indonesia's economy bounced back in 2021 with 3.69% growth

GDP accelerated in Q4 to pre-pandemic level, but COVID fear remains for 2022

The International Monetary Fund in January lowered its forecast for Indonesia's 2022 GDP growth rate to 5.6%.   © Reuters

JAKARTA -- Indonesia's economy returned to growth in 2021, rebounding from its first contraction in two decades the year before as coronavirus-induced restrictions eased and business got back into gear.

The gross domestic product of Southeast Asia's largest economy climbed 3.69% from a year earlier, government data showed on Monday, bouncing back from a 2.07% contraction in 2020. The finance ministry had previously forecast growth at 3.7%.

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