Indonesia's External Debt and Government Debt Ratio

Indonesia's external debt rose by 10.29% in 2017, reaching US$352.89 billion, or approximately Rp4,733.28 trillion (using an exchange rate of Rp13,413 per US dollar), from the end of the previous year. This amount is equivalent to 34.68% of the Gross Domestic Product (GDP). Then, in January 2018, external debt increased again by US$4.65 billion to US$357.54 billion or Rp4,795.75 trillion. This comprised government debt of US$183.39 billion and private debt of US$174.16 billion.

Meanwhile, central government debt last year increased by 12% to Rp3,938.45 trillion, equivalent to 28.98% of Indonesia's GDP. This amount consisted of loans worth Rp743.71 trillion and State Bonds (SBN) worth Rp3,194.74 trillion. Based on currency, government debt comprised Rp2,341.1 trillion in Rupiah and Rp853.64 trillion in foreign currency.

(Read Databoks: 3 Years of Jokowi's Administration, State Debt Increased by Rp1,000 Trillion)

The ratio of Indonesia's external debt to GDP has shown an upward trend since 2012, as seen in the graph below. Similarly, central government debt has increased since 2013. For information, Indonesia's GDP at current prices in 2017 only increased by 9.5% to Rp13,588.79 trillion from Rp12,406.8 trillion in the previous year.