Government Debt at the End of 2023 Reaches Rp8.144 Trillion, Majority Domestic SBN

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Adi Ahdiat 12/02/2024 14:53 WIB

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According to the Ministry of Finance's report, Indonesia's total government debt reached Rp8,144.69 trillion as of December 31, 2023. The majority consists of Domestic State Bonds (SBN).

Composition of Indonesian Government Debt (December 31, 2023)

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Government Debt at the End of 2023 Reaches Rp8.144 Trillion, Majority Domestic SBN

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Composition of Indonesian Government Debt (December 31, 2023)

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According to the Ministry of Finance's report, Indonesia's total government debt reached Rp8,144.69 trillion as of December 31, 2023.

The government debt ratio at the end of 2023 was 38.59% of the Gross Domestic Product (GDP), down from 39.70% at the end of 2022.

At the end of 2023, the majority of government debt consisted of Domestic State Bonds (SBN), valued at Rp5,808.13 trillion (71.31%).

Government debt in the form of Foreign Currency-denominated State Bonds (SBN) reached Rp1,372.58 trillion (16.85%), foreign loans amounted to Rp929.93 trillion (11.42%), and domestic loans totaled Rp34.05 trillion (0.42%).

The Ministry of Finance stated that the government's debt position at the end of 2023 remained within safe limits.

Law Number 17 of 2003 sets the maximum limit for state debt at 60% of GDP.

Furthermore, at the end of 2023, the government's debt profile was considered quite safe, with a weighted average maturity of around 8 years.

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."