Government Debt Increase and Decrease in Q1 2024

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Adi Ahdiat 02/05/2024 11:53 WIB

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Government debt fluctuated throughout the first quarter of 2024. By the end of March 2024, government debt reached Rp8.262 trillion, representing 38.79% of the total GDP.

Government Debt and Ratio to GDP (January-March 2024)

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Government Debt and Ratio to GDP (January-March 2024)

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According to the Ministry of Finance (Kemenkeu) report, government debt fluctuated in the first quarter of 2024.

By the end of March 2024, the debt reached Rp8,262.1 trillion, with a projected ratio of 38.79% to the Gross Domestic Product (GDP).

Government debt in March 2024 decreased compared to February 2024.

However, compared to January 2024, the debt increased in both value and ratio, as shown in the graph.

Nevertheless, the Kemenkeu stated that the government debt ratio remains within safe limits.

"The debt ratio at the end of March 2024, which amounted to 38.79 percent of GDP, remained consistently maintained below the safe limit of 60 percent of GDP, in accordance with Law No. 17 of 2003," said the Kemenkeu in its APBN Kita April 2024 edition report.

"Furthermore, the government prioritizes procuring medium-to-long-term debt and actively manages the debt portfolio," it continued.

According to the Kemenkeu, at the end of March 2024, government debt had a weighted average time to maturity of approximately 8 years.

In terms of composition, by the end of March 2024, Rp5,947.95 trillion (71.09%) of government debt consisted of domestic state securities (SBN).

Then, Rp1,388.92 trillion (16.97%) was in the form of foreign currency-denominated SBN, and Rp987.15 trillion (11.95%) was in the form of loans.

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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