The deficit deal went the I quarter of 2018 for USD 5.5 Billion
Bank Indonesia reported a deficit deal went downhill so I 2018 quarter support the external sector of the economy the resilience of Indonesia.
Running transaction recorded a deficit of USD 5.5 billion (2.1 percent of GDP) in 2018, I quarter lower than the deficit in the previous quarter to reach USD 6.0 billion (2.3 per cent of GDP).
Director of Communications Department of Bank Indonesia Arbonas Hutabarat deficit decline explains, deal went especially affected by the decline in the deficit in the balance of services and an increase in the surplus balance of the secondary income.
A decrease in the balance of services deficit mainly influenced the increase of surplus travel service (travel) along with the rise in the number of visits of foreign tourists and a reduction of import freight (freight). The increase in the surplus balance of the secondary income in line with the accession acceptance of remittance from migrant workers, Indonesia.
Meanwhile the surplus trade balance nonmigas decreased primarily affected the decrease in export nonmigas. Import nonmigas also declining though more limited, with imports of capital goods and raw materials are still at a high level in line with the activities of production and investment continued to increase.
While capital and financial transactions of the quarter I keep 2018 the surpluses recorded in the middle of the high degree of uncertainty in global financial markets. The surplus of capital and financial transactions in the quarter I 2018 recorded USD 1.9 billion, mainly sustained by the inflow of direct investment that is still quite high.
This reflects investors ' perceptions of positive fixed against the prospect of Indonesia's economy. However, the surplus of capital and financial transactions of the quarter I 2018 recorded lower compared with the surplus of the previous quarter.
The decline in the surplus is inseparable from the impact of increased uncertainty in global financial markets which then resulted in adjustments to the placement of foreign funds in the stock market and Government bond markets.
The decline in the surplus was also influenced by other investment components recorded deficits, particularly influenced the rise placement of private sector deposits at banks outside the country.
Overall, the balance of payments Indonesia (NPI) quarter I 2018 recorded deficits in line with the decrease in the surplus of capital and financial transactions. NPI quarter deficit I 2018 recorded USD 3.9 billion.
Our overall balance of payments balance his minus USD 3.8 billion because there are financial pressures on our accounts. NPI (balance of payments) remained well so that it can sustain the external resistance of Indonesia. the words of the Governor of the Bank Indonesia.
With the development of the NPI, the position of foreign exchange reserves at the end of March 2018 recorded amounted to USD126,0 billion. The amount of foreign exchange reserves is equivalent to 7.7 months financing imports and foreign debt as well as Government are above the international standard of adequacy.
Forward NPI forecasted remain good so that it can continue to support the resistance of the external sector. Bank Indonesia will keep a close watch on global development can affect the prospects of another increase in the uncertainty between the NPI global financial market, the trend of the application of inward-oriented trade policy in a number of countries, and rising oil prices world.
Bank Indonesia steadily pursued a mix of monetary policy and makroprudensial, as well as strengthening of coordination with government policy in particular in encouraging the continuation of structural reforms, so that the resistance of the external sectors of Indonesia remain awake.