Indonesia Projects Current Account Surplus in Second Quarter

Economics & Macro

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Dwi Hadya Jayani 08/07/2019 11:57 WIB

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Indonesia's central bank (BI) projected a US$3 billion surplus in the current account balance (NPI) in the second quarter of 2019. This was driven by an increase in foreign exchange reserves.

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Indonesia Projects Current Account Surplus in Second Quarter

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Indonesia's Balance of Payments

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Bank Indonesia (BI) projects a US$3 billion surplus in Indonesia's balance of payments (BOP) for the second quarter of 2019. This projection is higher than the Q1 2019 realization of US$2.4 billion and shows positive improvement compared to the same period last year. In Q2 2018, the BOP recorded a deficit of US$4.3 billion.

This BOP surplus is driven by a US$3.45 billion increase in foreign exchange reserves in June 2019. Foreign exchange reserves reached US$123.8 billion, compared to US$120.35 billion in May 2019. Furthermore, June 2019 reserves were US$4 billion higher than June of the previous year, which stood at US$119.8 billion.

However, BI Governor Perry Warjiyo also anticipates that the current account deficit (CAD) in Q2 2019 will be 3 percent lower than the gross domestic product (GDP). Nevertheless, the BOP remains supported by high capital and financial transactions.

Editor : Nazmi Haddyat Tamara

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."