Bank Indonesia Expects Low Inflation in February 2019
Based on a survey that was conducted by the central bank of Indonesia (Bank Indonesia), the nation's consumer price index is forecast to rise modestly in February 2019.
Today's Headlines in Indonesia
The Today's Headlines section of Indonesia Investments is a regularly updated section which contains the latest information with regard to topics that are currently causing headlines in Indonesia's media. Most of our headlines cover political, economic and social matters. As a consequence of their recent nature, these topics may not have crystallized fully yet and can, therefore, lack a profound analysis. For publications with a more in-depth understanding of subjects, we refer you to our News, Financial or Business columns.
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Current Account Balance Remains Achilles' Heel of Indonesia
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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Monetary Policy: Has the Tightening Cycle among Emerging Market Central Banks Come to an End?
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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Visa & Immigration: Procedures for Changing the Home Address of Expats’ KITAS/KITAP
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.