Indonesia records BoP surplus of 9.2 billion USD in Q2
Bank Indonesia (BI) reported on August 18 that the balance of payments (BoP) of the country had a surplus of 9.2 billion USD in the second quarter of 2020.
Indonesia records BoP surplus of 9.2 billion USD in Q2 (Photo: )
Jakarta (VNA) – Bank Indonesia (BI) reported on August 18 that the balance of payments (BoP) of thecountry had a surplus of 9.2 billion USD in the second quarter of 2020.
According to a report from the bank, the BoP experienced a deficit of 8.5billion in the first quarter.
BI said the improvement in the BoP was supported by adecrease in the current account deficit (CAD) and a large surplus in thecapital and financial account.
Inline with thedevelopment of the BoP surplus, the position of foreign exchange reserves atthe end of June stood at 131.7 billion USD, it added.
The current account deficit of Indonesia was recorded at 2.9 billion USD or 1.2percent of gross domestic products (GDP), lower than the deficit in theprevious quarter of 3.7 billion USD or 1.4 percent of GDP. The decline inthe CAD stemmed from a surplus in the goods trade balance due to lower importsdue to weakening domestic demand.
Meanwhile, thecapital and financial account surplus was recorded at 10.5 billion USD mainlyfrom net inflows of portfolio investment and direct investment, afterrecording a deficit of 3.0 billion USD in the first quarter of 2020.
Direct investment also contributed to the surplus on the capital andfinancial account, in line with the domestic economic contraction of theSoutheast Asian nation, the bank said./.
Bank Indonesia (BI) on July 6 warned that though consumer confidence improved in June, but basically, people remain pessimistic about the country’s economy.
Indonesia’s retail sales index shrank by 20.6 percent in May, the biggest reduction since 2008, mostly due to plunging clothes sales and cultural and recreational spending, according to a survey by the Bank Indonesia (BI).
Factory activity in Indonesia fell to its lowest level ever in the second quarter, as the COVID-19 pandemic caused a slump in demand and disrupted supply chains, according to a survey conducted by the Bank Indonesia (BI).
Indonesia’s Financial Services Authority (FSA) has revised the country’s credit growth down to just 4 percent this year compared to 2019 - far from the initial 11 percent.
Indonesia’s foreign exchange (forex) reserves increased to 135.1 billion USD in July, the highest level ever, following the government’s move to issue global bonds, Bank Indonesia (BI) has announced.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Indonesia records BoP surplus of 9.2 billion USD in Q2 (Photo: ) 
