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The Ministry of Finance (Kemenkeu) released information on Indonesia's total debt as of November 2023, which reached Rp 8,041 trillion.
"Suminto, the Director General of Financing and Risk Management at the Ministry of Finance, ensures that the amount of debt is still under control. The effectiveness of government debt does not only focus on the nominal amount, but also considers a number of other indicators."
“However, of course we do not just look at the nominal value; if we look at various indicators of our debt portfolio, in fact, the performance of our debts, including risks, is better compared to previous years,”
"Suminto expressed, quoted from Antara, Wednesday (3/1/2024)."
"Suminto assesses that the current debt-to-GDP ratio indicator of 38.11 percent shows that Indonesia's debt has improved significantly compared to the previous period."
The ratio shows a decline compared to the figure in December 2022, which reached 39.7 percent, as well as the position in December 2021, which was 40.7 percent. If we look at the debt indicators related to exchange rate risk, the proportion of Indonesia's debt in foreign currency (forex) continues to decline. In November 2023, government debt in forex reached 27.5 percent of total debt.
Debt Financing in 2023 Reached Rp 407 Trillion, Although Still Below the APBN Target.
At that time, Finance Minister Sri Mulyani Indrawati revealed that financing or debt withdrawal reached IDR 407 trillion, a decrease of 41.5 percent from the realization in 2022. The realization of debt financing was below the 2023 State Budget target of IDR 696.3 trillion, only reaching 58.4 percent of the target. However, from Presidential Regulation Number 75 of 2023, which set the amount at IDR 421.2 trillion, the realization reached 96.6 percent.
The State Treasurer explained that the decrease in debt financing in 2023 is in line with the fiscal consolidation process and the national economic recovery that is taking place. The yield on government bonds is controlled, and the cost of funds remains efficient despite facing global dynamics and financial market volatility.
The financing budget that has been realized reached Rp3,595.5 trillion, equivalent to 60.1 percent of the 2023 state budget (APBN) target of Rp598.2 trillion and 74.9 percent of the target of Presidential Regulation 75/2023, which is Rp479.9 trillion.
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