Indonesia revises current account deficit projection
Bank Indonesia (BI) has revised its projection of the current account deficit (CAD) for 2017, reported the Jakarta Post online newspaper on February 21.
The logo of Bank Indonesia marks the central bank's headquarters in Jakarta (Photo: Antara)
Jakarta (VNA) – BankIndonesia (BI) has revised its projection of the current account deficit (CAD)for 2017, reported the Jakarta Post online newspaper on February 21.
The country’s CAD for this year waspredicted to reach 2.1 percent of gross domestic product (GDP), lower than theprevious prediction of 2.4 percent, but above the 2016 result of 1.8 percent.
The projection was made during a BIboard meeting and in the context that the Indonesian economy is predicted to growbetter in 2017.
BI Governor Agus Martowardojo said thecentral bank is preparing for unfavourable external economic factors, includingexpansive economic policies and a corresponding fund rate increase from theUnited States, which could result in capital outflows from emerging marketslike Indonesia.
However, he noted that global investors remainoptimistic towards Indonesia as the country is still one of the best threeemerging markets for investment.-VNA
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The logo of Bank Indonesia marks the central bank's headquarters in Jakarta (Photo: Antara) 
