Indonesia’s current account deficit widened to USD $31.1 billion, equivalent to 2.98 percent of the country’s gross domestic product (GDP), in full-year 2018. It is a big deterioration compared to the USD $17.29 billion deficit (1.7 percent of GDP) in the preceding year. It means the current account balance remains the Achilles’ heel of the Indonesian economy, one that - potentially - triggers rapid and large capital outflows in times of global economic turmoil.

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In line with our estimates the central bank of Indonesia (Bank Indonesia) left its interest rates unchanged at the January policy meeting that was held on 16-17 January 2019. The benchmark BI 7-Day Reverse Repo Rate was held at 6.00 percent, while the deposit facility and lending facility rates were kept at 5.25 percent and 6.75 percent, respectively.

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A foreigner who lives in Indonesia on a limited stay permit (KITAS) or a permanent stay permit (KITAP) must have his Indonesian home address registered at the local branch of Indonesia’s immigration office. However, it often happens that the foreigner moves to a different house or apartment before his/her KITAS or KITAP expires. It is important to notify the immigration office about this move. Based on Article 71 Act No. 6/2011 on Immigration, all changes in expatriates’ civil status, citizenship, occupation, guarantor, or address must be reported to the immigration office in an immediate period of time.

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Going digital through mobile devices is a big game in Indonesia, especially in the e-commerce industry. Among the developing countries, Indonesia is a growing digital market with a +100 million internet population and an average of 87 percent of mobile traffic, proving that Indonesia is a mobile-first country.

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