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Balance of Payments: BI Governor Projects US$5bn Surplus

Translator

Ririe Ranggasari

Editor

Laila Afifa

January 30, 2019 | 08:09 pm

Bank Indonesia (BI) Governor Perry Warjiyo middle after a meeting in Jakarta. August 2018. TEMPO/Tony Hartawan

TEMPO.CO, Jakarta - Bank Indonesia (BI) Governor Perry Warjiyo said there would be a US$5 billion surplus in the state's balance of payments for the fourth quarter of 2018.  This is a huge rebound after the deficits in quarters two and three. 

"The improvement was fueled by capital inflows during the last quarter last year, which allowed a capital account surplus of US$12 billion," he said during a presentation at the Mandiri Investment Forum in Jakarta today, January 30. 

Despite a surplus in the balance of payments, Perry said that the current account deficit (CAD) will not be much different from Q3, expecting it to be around US$8 billion.

In Q3/2018, BI reported a balance of payment deficit amounting to US$4 billion, caused by increasing CAD. In the period, the CAD grew US$8.8 billion or 3.37% to the GDP. 

Dias Prasongko

BIBanking and FinanceBank Indonesia

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