Lupa Kata Sandi? Klik di Sini

atau Masuk melalui

Belum Memiliki Akun Daftar di Sini


atau Daftar melalui

Sudah Memiliki Akun Masuk di Sini

Konfirmasi Email

Kami telah mengirimkan link aktivasi melalui email ke rudihamdani@gmail.com.

Klik link aktivasi dan dapatkan akses membaca 2 artikel gratis non Laput di koran dan Majalah Tempo

Jika Anda tidak menerima email,
Kirimkan Lagi Sekarang

Bank Indonesia to Keep Current Account Deficit Below 3 Percent

Translator

Editor

12 August 2018 11:44 WIB

Logo of Indonesia's central bank, Bank Indonesia. REUTERS/Fatima El-Kareem

TEMPO.CO, JakartaBank Indonesia said it is confident it would be able to keep the country`s current account deficit below 3 percent by the end of this year.

By the end of the first half of the year the current account deficit already reached 2.6 percent of the country`s Gross Domestic Product (GDP).

"Until the end of the year we are confident the deficit could be kept below 3 percent," Executive Director of Statistic Department of the Central Bank Yati Kurniati told reporters on Friday.

Yati said Bank Indonesia will continue to cooperate with the government to keep the current account deficit more under control.

Among the efforts is to draw more foreign tourists by developing the tourism sector potential to contribute to foreign exchange income in short term, she said.

The same strategy has been adopted by Thailand, which has succeeded in developing its tourism industry resulting in a surplus in its service account, she said.

"We will develop foreign exchange earners such as tourism sector to reduce deficit in service account," she went on to say.

Bank Indonesia appreciates the government creating an integrated service system to attract investments mainly export and import substitute-based investments in a bid to cut current account deficit, she said.

In addition, Bank Indonesia will continue to strengthen the policy mix to maintain stability amid uncertainties in the global financial market , and policy coordination with the government to push for continuation of structural reform, she said.

Bank Indonesia will continue to watch the global developments that could affect the prospects of the country`s balance of payments such as the high global financial uncertainty, the inclination to protectionism in international trade and oil price hikes, she said.

She said the country`s balance of payments deficit widened to US$4.3 billion in the second quarter of the year from US$3.9 billion earlier.

"Ahead, the balance of payments performance would remain good and could sustain resilience of external sector," she predicted.

Earlier, the Central Bank said the country`s current account deficit reached US$8 billion or 3 percent of the GDP in the second quarter of this year, up from US$5.7 billion or 2.2 percent of GDP in the previous quarter.

One cause of the increase in the current account deficit was shrinking surplus in non-oil/gas commodity trade balance,and widening deficit in oil and gas trade balance.

ANTARA




Bank Indonesia Readies Rp197.6 trillion for Ramadan, Eid al-Fitr Season

3 hari lalu

Bank Indonesia Readies Rp197.6 trillion for Ramadan, Eid al-Fitr Season

Bank Indonesia projects that the country will require over Rp197.6 trillion this Ramadan and Eid al-Fitr season.


Bank Indonesia: Single Round Election May Help Economy Grow More than 5.1%

13 hari lalu

Bank Indonesia: Single Round Election May Help Economy Grow More than 5.1%

Bank Indonesia (BI) Governor Perry Warjiyo is confident that Indonesia's economic growth will exceed 5.1 percent in 2024.


Bank Indonesia Estimates 2024 Global Economic Growth at 3%, Weaker Than Last Year

18 hari lalu

Bank Indonesia Estimates 2024 Global Economic Growth at 3%, Weaker Than Last Year

Bank Indonesia says the global economy this year will be weaker compared to 2023.


Bank Indonesia: 2023 E-Commerce Transaction Hits Rp454 Trillion

24 hari lalu

Bank Indonesia: 2023 E-Commerce Transaction Hits Rp454 Trillion

Bank Indonesia stated that the digital economy and finance are poised to be a game changer in the country's economic landscape.


Bank Indonesia Maintains 6 Percent Benchmark BI Rate, Rupiah Closes Stronger

26 hari lalu

Bank Indonesia Maintains 6 Percent Benchmark BI Rate, Rupiah Closes Stronger

Bank Indonesia Maintains 6 Percent Benchmark Interest Rate, Rupiah Closes Stronger


Central Bank Notes Indonesia's Property Price Hike in Q2/2023

27 hari lalu

Central Bank Notes Indonesia's Property Price Hike in Q2/2023

Bank Indonesia or BI said that the price of the property will increase further in Q4/2024, as seen from the BI's Residential Property Price Survey.


Bank Indonesia Must Maintain Interest Rate, Economist Says

38 hari lalu

Bank Indonesia Must Maintain Interest Rate, Economist Says

Economists said that Bank Indonesia must maintain interest rate


Bank Indonesia: Red Sea Conflict Delays Goods Distribution

40 hari lalu

Bank Indonesia: Red Sea Conflict Delays Goods Distribution

Bank Indonesia said that the conflict in the Red Sea is hampering the distribution of goods, including to Indonesia.


Bank Indonesia to Hold International Tourism Fair in Bali, Nusa Tenggara Mid-year

45 hari lalu

Bank Indonesia to Hold International Tourism Fair in Bali, Nusa Tenggara Mid-year

Bank Indonesia's Office for Bali, West Nusa Tenggara and East Nusa Tenggara is preparing a set of international tourism activities in June and July.


Bank Indonesia Concocts 5 'Jamu' for 2024 with Focus on Strengthening Local Currency

46 hari lalu

Bank Indonesia Concocts 5 'Jamu' for 2024 with Focus on Strengthening Local Currency

Bank Indonesia governor says that BI has concocted five "jamu" to help improve the health of Indonesia's economy.