Problematic Loans for Agricultural MSMEs Reach Rp6 Trillion by Mid-2024

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Adi Ahdiat 24/10/2024 14:40 WIB

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According to OJK data, the value of non-performing loans for Indonesian agricultural, hunting, and forestry MSMEs reached Rp6.22 trillion in June 2024, equivalent to 2.46% of the total loan value paya

Non-Performing Loan (NPL) Ratio of Indonesian Agricultural, Hunting, and Forestry MSMEs and its Ratio to Outstanding Loans (January 2021-June 2024)

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Non-Performing Loan (NPL) Ratio of Indonesian Agricultural, Hunting, and Forestry MSMEs and its Ratio to Outstanding Loans (January 2021-June 2024)

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The value of non-performing loans (NPLs) or problematic debts of micro, small, and medium enterprises (MSMEs) in Indonesia's agriculture, hunting, and forestry sector has increased in recent years.

According to data from the Financial Services Authority (OJK), in January 2021, the value of problematic debts for MSMEs in this sector was approximately Rp2.76 trillion. This represented a ratio of 2.13% of the debit balance or the total loan value payable to banks.

This value of problematic debt gradually increased to Rp6.22 trillion by June 2024.

The NPL ratio also steadily increased since the beginning of 2023, reaching 2.46% by mid-year, as shown in the graph.

President Prabowo Subianto now plans to issue a presidential regulation (Perpres) regarding the write-off or cancellation of debts owed by farmers and fishermen to banks.

This plan was revealed by Prabowo's younger brother, Hashim Djojohadikusumo.

"Millions of our farmers and fishermen are still burdened by old debts. There are debts from the 1998 monetary crisis, debts from 2008, debts from everywhere. Between 5 and 6 million farmers and fishermen have old debts," Hashim said, as reported by Kompas.com on Wednesday (23/10/2024).

"Next week, Mr. Prabowo will likely sign a Perpres for debt forgiveness. Minister of Law and Human Rights, Mr. Supratman, has prepared it," he continued.

Editor : Adi Ahdiat

"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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Problematic Loans for Agricultural MSMEs Reach Rp6 Trillion by Mid-2024

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Problematic Loans for Agricultural MSMEs Reach Rp6 Trillion by Mid-2024

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