The Transaction Deficit Is Predicted To Be Low In The Second Quarter Of 2024

Rupiah Dollar (Photo: antara)

JAKARTA - Bank Indonesia (BI) revealed that the current account deficit in the second quarter of 2024 is predicted to be low, supported by the continued trade balance surplus, which until May 2024 was recorded at 5.6 billion US dollars.

Gubernur Bank Indonesia (BI) Perry Warjiyo menyampaikan aliran masuk modal asing dalam bentuk portofolio pada kuartal II 2024 atau hingga 14 Juni 2024, mencatatkan net inflows sebesar 4,0 miliar dolar AS, di tengah masih ketidakpastian pasar keuangan global.

The position of Indonesia's foreign exchange reserves at the end of May 2024 increased to US$ 139.0 billion, equivalent to financing 6.3 months of imports or 6.1 months of imports and payment of government foreign debt, and was above the international adequacy standard of about 3 months of imports.

"Overall, NPI 2024 is predicted to be maintained with transactions running in the low deficit range of 0.1 percent to 0.9 percent of GDP (gross domestic product)," he said at a press conference, Thursday, June 20.

Perry said that the balance of capital and financial transactions is predicted to continue to record a surplus, supported by an increase in foreign capital inflows, both in the form of Foreign Investment (PMA) and portfolio investments in line with investor positive perceptions of the national economic prospects and attractive investment returns.

BI previously said that the current account deficit remained low amid the slowdown in the global economy.