Tenses of Economic Article

Central Bank Predicts BOP Surplus this Year

(1)Bank Indonesia (BI) predicts the country’s balance of payments (BOP) will swing from negative to positive this year, (2)supported by a rebound in exports and an influx of foreign inflows. 

(3)Indonesia’s BOP regained surplus in the fourth quarter of 2013 after three consecutive quarters of deficit, (4)with the trend expected to repeat in the first quarter this year, says BI Deputy Governor Perry Warjiyo.

Overall, (5)Indonesia booked a US$7.3 billion deficit in BOP throughout last year. 

“Overall, (6)our balance of payments will record a bigger surplus this quarter, compared to a quarter earlier,” (7)Perry told reporters at his office on Friday. “This year’s BOP will also be in surplus.”

(8)BOP comprises current account, capital account and records all international monetary transactions between a country and the rest of the world, indicating an economy’s financial health. 

(9)Perry noted Indonesia’s improved BOP this year would be attributable to an export rebound, (10)which would improve the current account, and to the return of foreign inflows, which would boost the capital account.

(11)Improved economic fundamentals have prompted financial services giants, from Canada-based Manulife to US-based BlackRock, to boost their investment portfolio allocations in Indonesia. 

(12)South Korea-based Samsung Asset Management has declared that it is “super-overweight” on Indonesian equities, (13)the company’s investment manager Alan Richardson told Bloomberg recently. 

(14)Even US-based Morgan Stanley — which labeled Indonesia last year an economy most fragile to outflows — upgraded the country to “equalweight”, from “underweight” in January. 

(15)The robust foreign inflows so far have propelled the rupiah and the Jakarta Composite Index (JCI) to become the best performers in Asia’s currency and equity markets this year.

According to Perry, foreign inflows entering Indonesia amounted to Rp 55 trillion ($4.84 billion) in the first three months this year.(16) That was higher compared to the Rp 42 trillion that the country recorded throughout 2013.

(17)“Sentiment on Indonesian assets has continued to improve,” stated Ho Woei Chen, an economist with United Overseas Bank (UOB) in Singapore. 

A key driver of the improvement, (18)Ho said, was the better current account, the major worry among investors last year, (19)which had narrowed to 2 percent of gross domestic product (GDP) in the fourth quarter last year, from a record high of 4.4 percent in the second quarter of the same year.

The current-account deficit in the first quarter this year “would stand roughly at the same level”, compared to the previous quarter of 2 percent, (20)according to Perry, who also predicted Indonesia would record a $760 million surplus in trade balance in February. 

Tenses :

1. Bank Indonesia (BI) …… will swing from negative to positive this year

•  Future Tense

2.  supported by a rebound

• Present Perfect Tense

3. Indonesia’s BOP regained surplus in the fourth quarter

•  Past Perfect Tense

4.  with the trend expected to repeat in the first quarter this year

•  Past Perfect Tense

5. Indonesia booked a US$7.3 billion deficit in BOP throughout last year

• Past Tense

6. our balance of payments will record a bigger surplus this quarter

•  Future Tense

7. Perry told reporters at his office on Friday. “This year’s BOP will also be in surplus

• Past Perfect Tense 

8. BOP comprises current account, capital account and records all international monetary transactions between a country and the rest of the world

• Present Continuous Tense

9. Perry noted Indonesia’s improved BOP this year would be attributable

• Past Continuous Tense

10. which would improve the current account

• Future Perfect Tense

11. Improved economic fundamentals have prompted financial services giant

• Present Perfect Tense

12. South Korea-based Samsung Asset Management has declared

• Present Perfect Tense

13. the company’s investment manager Alan Richardson told Bloomberg recently

• Past Perfect Tense 

14. Even US-based Morgan Stanley — which labeled Indonesia last year an economy most fragile to outflows

• Past Perfect Tense 

15. The robust foreign inflows so far have propelled the rupiah

• Present Perfect Tense

16. That was higher compared to the Rp 42 trillion that the country recorded throughout 2013.

• Past Tense

17.  “Sentiment on Indonesian assets has continued to improve,”

• Present Perfect Tense

18.  Ho said, was the better current account, the major worry among investors last year

• Past Tense

19. which had narrowed to 2 percent of gross domestic product (GDP) in the fourth quarter last year

•   Past Perfect Tense

20. according to Perry, who also predicted Indonesia would record a $760 million surplus in trade balance in February. 

• Future Perfect Tense