2019, Government Debt Reached its Highest Peak

To cover the government's budget deficit in implementing development, the government has been forced to borrow and issue debt securities. This is because government spending has consistently exceeded revenue. As of May 2017, the government's total debt reached Rp 3,672.3 trillion, comprising loans and State Bonds (Surat Berharga Negara or SBN).

According to data from the Directorate General of Financing and Risk Management of the Ministry of Finance, Indonesian government debt maturing reached its peak in 2019, at Rp 324 trillion. This amount consisted of Rp 246 trillion in SBNs and Rp 78 trillion in loans. Meanwhile, the debt maturing in 2017, as of May 31st, reached Rp 145 trillion, comprising Rp 100 trillion in SBNs and Rp 45 trillion in loans.

The composition of loans within the maturing government debt shows a declining trend. Maturing debt in the form of loans constituted 31 percent in 2017, but is projected to fall to only three percent in 2038.