The first quarter of 2024 in Indonesia is full of various events. The momentum of the General Election, the Ramadan period, accelerated completion of infrastructure projects towards the end of the government term and several long holidays have encouraged an increase in domestic economic activity. As a result, Indonesia's GDP grew 5,11% in the first quarter of 2024, an increase from 5,04% (yoy) in the fourth quarter of 2023 and higher than the overall growth in 2023 of 5,05% (yoy). The combination of various seasonal factors can increase household consumption, government spending and infrastructure investment. Furthermore, sectors that rely on physical mobility, such as accommodation and food and beverage, transportation, health and social activities also enjoy high growth rates due to various seasonal factors. Information and communication, public administration and construction also grew drastically due to the holding of elections and increased government spending.
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