Indonesia's Government Foreign Debt Surpasses Rp2,800 Trillion: What Is It For?

According to Bank Indonesia (BI) data, Indonesia's government external debt reached US$185.1 billion in October 2023, excluding central bank debt.

Converted to Indonesian Rupiah, the value of the government's external debt is equivalent to Rp2,872.8 trillion (assuming an exchange rate of Rp15,518 per US$).

Indonesia's government external debt in October 2023 decreased by 1.7% compared to the previous month (month-on-month/mom). However, compared to a year ago, it increased by 3% (year-on-year/yoy).

This debt was mostly used for the health services and social activities sector.

The following is a breakdown of Indonesia's government external debt by sector in October 2023, ordered from largest to smallest:

* Health Services and Social Activities: US$44.1 billion
* Government Administration, Defense, and Mandatory Social Security: US$34 billion
* Education Services: US$30.9 billion
* Construction: US$26.2 billion
* Financial and Insurance Services: US$18.6 billion
* Transportation and Warehousing: US$10.7 billion
* Agriculture, Forestry, and Fisheries: US$9.1 billion
* Water Supply, Waste Management, Waste and Recycling: US$5.2 billion
* Electricity and Gas Supply: US$3 billion
* Other Services: US$2.2 billion
* Information and Communication: US$716.8 million
* Mining and Quarrying: US$341 million
* Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles: US$36.4 million
* Manufacturing Industry: US$5.9 million
* Corporate Services: US$2.8 million
* Accommodation and Food Service Provision: No debt
* Real Estate: No debt