Government and Bank Indonesia Debt Increased in October 2023

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Adi Ahdiat 19/12/2023 12:00 WIB

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According to BI data, the total external debt of the government and central bank reached US$195.2 billion in October 2023, a 3.9% increase year-on-year (yoy).

Indonesia's Government and Central Bank External Debt Position (January 2008-October 2023)

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Indonesia's Government and Central Bank External Debt Position (January 2008-October 2023)

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According to Bank Indonesia (BI) data, the total external debt of the government and central bank reached US$195.2 billion in October 2023.

This figure is 1.3% lower than the previous month (month-on-month/mom), but increased by 3.9% year-on-year (year-on-year/yoy).

Broken down by category, in October 2023, the government's external debt reached US$185.1 billion. This decreased by 1.7% month-on-month (mom), but increased by 3% year-on-year (yoy).

Meanwhile, the central bank's external debt in October 2023 reached US$10.1 billion, increasing by 6.9% month-on-month (mom) and by 21.9% year-on-year (yoy).

Although Indonesia's debt tends to continue increasing, its ratio to Gross Domestic Product (GDP) remains relatively low.

The International Monetary Fund (IMF) projects that in 2023, the ratio of Indonesia's government debt to GDP will be only 39%. This figure is relatively small on an Asian, and even global, scale.

Compare this to Japan, for example. The IMF projects that Japan's government debt-to-GDP ratio this year will reach 255%.

Furthermore, the projected government debt-to-GDP ratios for the United States are 123%, France 110%, the United Kingdom 104%, China 83%, and India 81%.

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."