Relatively steady inflation and an increase in GDP deflator and the Consumer Price Index have contributed to strong economic growth in recent years. From 2007 to 2019, annual growth has accelerated to between 4% and 6% as a result of improvement in the banking sector and domestic consumption, helping Indonesia weather the 2008–2009 Great Recession, and regain in 2011 the investment grade rating it had lost in 1997. , 9.41% of the population lived below the poverty line, and the official open unemployment rate was 5.28%. However, in late 2020, Indonesia fell into its first recession in 22 years due to the effects of the global COVID-19 pandemic.