Data Check: What is the Debt-to-GDP Ratio for Indonesia that Prabowo Mentioned?

Economics & Macro

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Reza Pahlevi 07/01/2024 20:51 WIB

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Indonesia's debt-to-GDP ratio is among the lowest in the world.

Total Government Debt of Indonesia and its Ratio to GDP (2000-2023*)

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Data Check: What is the Debt-to-GDP Ratio for Indonesia that Prabowo Mentioned?

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Total Government Debt of Indonesia and its Ratio to GDP (2000-2023*)

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Presidential candidate number two, Prabowo Subianto, stated that Indonesia's debt-to-GDP ratio is among the lowest in the world.

He made this statement during the third presidential and vice-presidential debate of 2024, themed Defense, Security, International Relations, and Geopolitics, held at Istora Senayan, Jakarta, on Sunday (7/1/2024).

“It turns out that our foreign debt, as a ratio compared to GDP, is one of the lowest in the world. We are still around 40%, and many countries are above us,” said Prabowo.

Prabowo answered a panelist's question highlighting the risk of sovereignty intervention from lending countries and was asked for his strategy to avoid this.

Indonesia's government debt-to-GDP ratio reached 38.11% in November 2023. This debt ratio is lower than the average for developing countries, which stands at 67% according to the International Monetary Fund (IMF). It is also below the maximum ratio of 60% stipulated in Law Number 1 of 2003 concerning state finances.

The total value of government debt reached Rp 8,041.01 trillion in the same period. 88.6%, or Rp 7,125 trillion, came from state securities. Foreign loans were recorded at Rp 886.07 trillion, or only 11% of the total government debt.

Editor : Dini Pramita

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Data Check: What is the Debt-to-GDP Ratio for Indonesia that Prabowo Mentioned?

Data Check: What is the Debt-to-GDP Ratio for Indonesia that Prabowo Mentioned?

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Data Check: What is the Debt-to-GDP Ratio for Indonesia that Prabowo Mentioned?

Data Check: What is the Debt-to-GDP Ratio for Indonesia that Prabowo Mentioned?

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20.04 Thousand Jayawijaya Regency Residents are Junior High School Graduates by End of 2024

Ministry of Environment and Forestry Finds 150 Hotspots in Indonesia, Most in North Maluku (Friday, December 5, 2025)

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South Sumatra's Air Quality This Morning (5/12) is the Worst in Indonesia

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