REPUBLIKA.CO.ID, JAKARTA - Government claimed that export ban on mineral ores, which would be implemented on January 12, 2013 would not disturb current account deficit. However, government saw that export revenues would decline.

"We still have to push current account deficit below three percent," Deputy Minister of Finance, Bambang Brodjonegoro said on Friday.

Brodjonegoro said that government will encourage its commitment to reduce oil imports by using biofuels without exception. Government would also control the volume of subsidized fuel. It could save foreign exchange.

Export ban on mineral ores is potential reducing export earnings about four to five billion USD next year. On the other hand, government is still importing minerals worth four to five billion USD. Trade deficit of mining is still quite high next year, reaching 9.9 billion USD.

Brodjonegoro projected that trade deficit in 2015 would decline by three to four billion USD as smelters have begun to be built. In 2016, trade deficit will be surplus as many smelters have been completed. All mining concessions have to finish their smelters or looking for a partner to build a smelter.

Bank Indonesia (BI) targetted current account deficit in 2014 fell below three percent of gross domestic product (GDP).

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