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21/05/2020 - 17:42

Indonesia attracts 4.1 billion USD worth of net inflow

Indonesia posted a net inflow of 4.1 billion USD from April to May 14, after recording a net outflow of 5.7 billion USD in the first quarter of 2020, said Bank Indonesia (BI) Governor Perry Warjiyo on May 19.

Bank Indonesia Governor Perry Warjiyo (Photo: BI)

According to the official, the foreign capital inflow began to improve again from April 2020 driven by easing global financial market uncertainties, high competitiveness of domestic financial assets, and favourable outlook for the Indonesian economy.

Meanwhile, foreign exchange reserves increased to 127.9 billion USD at the end of April, which was equivalent to financing 7.8 months of imports.

The figure is more than enough to meet import and debt payments and exchange rate stabilization, Perry said.

The central bank also estimated the current account deficit in 2020 to be below 2 percent of gross domestic product (GDP) from an initial estimate of 2.5-3 percent of GDP./.

VNA

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