Bank Indonesia (BI) predicted the country’s current account deficit by the end of this year would be slightly lower at 3.5 percent of the country’s gross domestic product (GDP).
Indonesia ’s current account deficit in the third quarter fell to 8.4 billion USD (3.8 percent of the GDP) from 9.9 billion USD (4.4 percent of the GDP) in the second quarter.
BI Governor Agus Martowardojo said the decline is attributable to a surplus in trade of non oil/gas commodities, a sharp fall in imports, and increase in exports of commodities other than oil and gas.
In 2014, current account deficit is expected to drop further to around 3 percent of the GDP with the progress in structural improvement by the government and the effectiveness of economic stabilisation policy adopted by BI and the government.-VNA
Indonesia ’s current account deficit in the third quarter fell to 8.4 billion USD (3.8 percent of the GDP) from 9.9 billion USD (4.4 percent of the GDP) in the second quarter.
BI Governor Agus Martowardojo said the decline is attributable to a surplus in trade of non oil/gas commodities, a sharp fall in imports, and increase in exports of commodities other than oil and gas.
In 2014, current account deficit is expected to drop further to around 3 percent of the GDP with the progress in structural improvement by the government and the effectiveness of economic stabilisation policy adopted by BI and the government.-VNA
