Friday, 26 July 2013

Bank Indonesia Sees Q2 Current Account Deficit Wider at 3.5%

Indonesia’s central bank said its current account deficit in the second quarter widened to 3.5 percent of gross domestic product, from 2.4 percent in the first quarter, due to seasonal factors.

But the deficit will narrow to 2.5 percent in the July-September period, Deputy Governor Perry Warjiyo told reporters on Friday.

Concerns over Indonesia’s current account deficit, and rising inflation, helped trigger a heavy sell-off in its bonds, stocks and currency recently.

The central bank is scheduled to announce Q2 balance of payment data on Aug. 16, a day after it holds its monthly interest rate meeting.

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