Indonesian Micro, Small, and Medium Enterprises (MSMEs) in the Fisheries Sector Face Rp834 Billion in Non-Performing Loans by Mid-2024

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Adi Ahdiat 24/10/2024 15:26 WIB

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According to OJK data, Indonesian fisheries MSMEs had nearly Rp834 billion in non-performing loans in June 2024, equivalent to 4.8% of the total loan value payable to banks.

Non-Performing Loan (NPL) Ratio of Indonesian Fisheries Sector MSMEs and its Ratio to Outstanding Loans (January 2021-June 2024)

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Non-Performing Loan (NPL) Ratio of Indonesian Fisheries Sector 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 Indonesia's micro, small, and medium enterprises (MSMEs) in the fisheries sector has increased in recent years.

According to data from the Financial Services Authority (OJK), in January 2021, the value of problematic debts in this sector was approximately Rp433 billion. This represented a ratio of 3.82% of the debit balance, or the total value of loans payable to banks.

Subsequently, the value of these problematic debts gradually increased to almost Rp834 billion by June 2024.

The NPL ratio has also steadily increased since the beginning of 2022, reaching 4.80% 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. It has been prepared by Mr. Supratman, the Minister of Law," 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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Indonesian Micro, Small, and Medium Enterprises (MSMEs) in the Fisheries Sector Face Rp834 Billion in Non-Performing Loans by Mid-2024

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Indonesian Micro, Small, and Medium Enterprises (MSMEs) in the Fisheries Sector Face Rp834 Billion in Non-Performing Loans by Mid-2024

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