JAKARTA, May 20 (Xinhua) -- Indonesia posted a balance of payments deficit of 6.0 billion U.S. dollars from January to March of this year, as opposed to an excess of 8.6 billion in the preceding quarter, the country's central bank said on Monday.
"Despite the global economic slowdown, Indonesia's balance of payments performance in the first quarter of 2024 remains maintained," head of Bank Indonesia's Communications Department Erwin Haryono said.
Meanwhile, the current account recorded a deficit of 2.2 billion dollars, or 0.6 percent of gross domestic product, compared to a deficit of 1.1 billion dollars in the previous quarter.
A smaller non-oil and gas trade balance surplus than in the prior quarter and a growing primary income balance deficit were the main factors contributing to the current account deficit.
Compared to the previous quarter, when there was a surplus of 11.1 billion dollars, capital and financial transactions recorded a deficit of 2.3 billion dollars. This was primarily due to portfolio investments led by foreign capital outflow in domestic debt securities.
To keep current transactions at a low deficit range of 0.1 to 0.9 percent of gross domestic product, Bank Indonesia is working in concert with the government and relevant authorities to implement synergistic policies, it said. ■
