RI's Current Account Deficit Will Reach 2.9% in 2018: Central Bank
Illustration (Photo:MI/Susanto)
Bali: Bank Indonesia governor Perry Warjiyo on Wednesday said Indonesia's current account deficit will reach 2.9 percent of GDP by the end of 2018.

"Our estimation is 2.9 percent. It is still below three percent,"  said the central bank leader during the 2018 Central Banking Forum in the holiday island of Bali.

Bali is hosting the annual meetings of the International Monetary Fund and the World Bank this week. President Joko "Jokowi" Widodo is scheduled to kick off the Annual Meetings Plenary tomorrow.


The government is optimistic that the event can promote Indonesia on the international stage. It also believes the presence of foreign guests can give positive impacts to Bali and other regions.

Indonesia posted a current account deficit of $8.0 billion (3.0% of GDP) in the second quarter of 2018. It increased from $5.7 billion (2.2% of GDP) in the previous quarter.

The increasing deficit was primarily influenced by narrowed non-oil and gas trade surplus amid increase in oil and gas trade deficit. It was mainly due to the increase in imports of raw materials and capital goods.



(WAH)

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