Indonesia economy grew by 6.3% in the first three months year on year, supported by huge consumption and growing investment, a media quoting the Statistic Bureau reported here on Monday.
The bureau announced on Monday that the country's GDP reached 632.8 trillion rupiah (some 68.596 billion U.S. dollar), Bisnis. com, one of the biggest portal said.
The economy accelerated at 6.49% at the fourth quarter of last year.
Huge consumption and increasing investment made up declining exports as the weakening global economy has sapped demand from emerging economies.
The central bank has paused from cutting interest rate for a two straight month on April 12 to help spur the economic growth amid rising inflation pressure.
The bank cut the rate by 50 basis points at the end of last year and 25 basis points to 5.75% earlier this year.
As the government may increase oil price under a certain condition and the government decision to find a way to cut huge fuel subsidy have pushed expected inflation that the consumer price in April to a seven-month-high of 4.46% from a year earlier.
The total foreign and domestic investment grew by 32.5% year on year to 71.2 trillion rupiah in the first three month, Chairman of Coordinating Investment Board Gita Wirjawan has said.
On December 15, Indonesia regained its investment grade status from Fitch's rating agency, followed by similar suit by Moody's Investor Service on January 18, which put Indonesia in the same par with India and Brazil.
Indonesia targets 6.5% economic growth this year./.