The current account deficit settled at 3.7 billion U.S. dollars or 1.4 percent of the GDP from January to March, Spokesman of Bank Indonesia Onny Widjanarko noted.
The spokesman said in a statement that Indonesia’s balance of payment swung to a 9.2 billion U.S. dollars surplus in the second quarter from 8.5 billion U.S. dollars deficit in the first quarter.
Weakening global economic activities during the COVID-19 pandemic have led the Southeast Asian biggest economy to record net exports for months amid subdued yield allocated to foreign investors.
The rising global liquidity has led the flows of capitals into Indonesia’s portfolios which offer attractive yields in the second quarter, and the capitals also parked in the country in the forms of direct investment, after exiting Indonesia in the first quarter, according to Bank Indonesia. Editem
Latest comments