Government Debt Falls to Rp6,687.28 Trillion in October 2021

The Ministry of Finance (Kemenkeu) recorded government debt of Rp 6,687.28 trillion in October 2021. The government debt-to-Gross Domestic Product (GDP) ratio was recorded at 439.69%.

Government debt in October 2021 decreased by 0.36% compared to the previous month, which was Rp 6,711.52 trillion. Compared to October 2020, which was Rp 5,877.71 trillion, government debt increased by 13.77%.

State bonds (SBN) still dominated government debt, reaching Rp 5,878.69 trillion or 87.9%. This debt consisted of domestic SBN amounting to Rp 4,611.66 trillion and foreign currency (forex) SBN amounting to Rp 1,267.03 trillion.

Meanwhile, government debt in the form of loans amounted to Rp 808.59 trillion or 12.09%. Of this amount, Rp 12.41 trillion came from domestic sources. Foreign loans amounted to Rp 796.18 trillion. The details are: bilateral loans of Rp 301 trillion, multilateral loans of Rp 454.09 trillion, and commercial bank loans of Rp 41.08 trillion.

The government continues to maintain debt management because economic recovery has begun to be seen in the third quarter of 2021, supported by the slowing spread of active Covid-19 cases and the continued acceleration of vaccination. The government continues to maintain debt management in the composition of domestic SBN debt so that it is not smaller than debt in the form of foreign currency.