Current Account Deficit Predicted to Widen to 1 Percent in 2022

Economics & Macro

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Dwi Hadya Jayani 14/10/2021 16:10 WIB

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Indonesia's current account deficit is projected to show an increasing trend after a period of decline.

Indonesia's Current Account Balance (2013-2026)

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Current Account Deficit Predicted to Widen to 1 Percent in 2022

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Indonesia's Current Account Balance (2013-2026)

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The International Monetary Fund (IMF) projects that Indonesia's current account deficit will increase in 2022, after a period of decline. The IMF projects the Indonesian current account deficit to rise to 1% of Gross Domestic Product (GDP) in 2022.

According to the international monetary institution, Indonesia and the Philippines are expected to experience current account deficits in 2022. The Philippines' current account deficit is projected at 1.8% in 2022, up from a projected surplus of 0.4% in 2021. Other countries, meanwhile, are expected to experience surpluses: Malaysia at 3.7% of GDP, Vietnam at 3.2%, and Thailand at 2.1%.

Indonesia's current account deficit was recorded at 0.4% of GDP in 2020, down from 2.7% in 2019. In 2021, Indonesia's current account deficit is projected to decrease to 0.3%.

The IMF also projects that Indonesia's current account deficit will increase again to 2.2% in 2026.

Editor : Annissa Mutia

"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."