Tuesday, August 22, 2017 - 1:03:18

Indonesia: Remittance up during Ramadan

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Remittance poured into Indonesia during the month of Ramadan and the festival of Idul Fitri increased by 25 percent to 15 trillion Rp (1.46 billion USD).

According to Reyna Usman, General Director of Worker Placement and Protection at Indonesia’s Labour Ministry, Indonesian migrant workers usually send money back home during this time.

Indonesia has over four million labourers working in foreign countries, 5 percent more than last year, Usman said.

Statistics from Bank Indonesia (BI) show that in the first quarter of this year, the country received 1.9 billion USD in remittance , 7 percent higher than that of the same period in 2012.

However, BI also said that the number is not enough to offset the deficit from current accounts in Indonesia, which has been at an alarming rate from the end of 2011 due to a prompt decrease of exports.

Indonesia’s National Statistical Office (BPS) said the country saw a deficit of 9 billion USD in current accounts in the second quarter of this year, up 3.7 billion USD over the previous quarter.-VNA
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