Government Debt Rises to Rp 6,711.52 Trillion in September 2021

The Ministry of Finance (Kemenkeu) recorded government debt of Rp 6,711.52 trillion in September 2021. The government debt-to-Gross Domestic Product (GDP) ratio was recorded at 41.38%.

Government debt in September 2021 increased by 1.3% compared to the previous month, which was Rp 6,625.43 trillion. Compared to September 2020, which was Rp 5,756.87 trillion, government debt increased by 16.58%.

State bonds (SBN) still dominated government debt at Rp 5,887.67 trillion or 87.72%. This debt consisted of domestic SBN amounting to Rp 4,606.79 trillion and foreign currency (forex) SBN amounting to Rp 1,280.88 trillion.

The government also has debt in the form of loans amounting to Rp 823.85 trillion or 12.27%. Of this amount, Rp 12.52 trillion in loans originated from within the country.

Furthermore, Rp 811.33 trillion in loans originated from abroad. The details are: bilateral loans of Rp 306.18 trillion, multilateral loans of Rp 463.67 trillion, and commercial bank loans of Rp 41.48 trillion.

The government continues to maintain cautious, measured, and flexible debt management as economic recovery from the Covid-19 pandemic is still ongoing. One of the debt management steps taken by the government is to maintain a larger composition of domestic SBN than foreign currency SBN.