Government Debt Ratio from Soeharto to Jokowi

The ratio of government debt to Gross Domestic Product (GDP) has tended to increase over the last decade. However, compared to the Soeharto era, the ratio remains lower.

The amount of government debt has indeed increased. Based on data from the Ministry of Finance, government debt reached Rp 6,527.29 trillion in April 2021, up Rp 82.22 trillion compared to the previous month, which was Rp 6,445.07 trillion.

Nevertheless, the ratio of government debt to Indonesia's GDP currently remains lower than in the last year of Soeharto's presidency. In 2020, the ratio of government debt to GDP was recorded at 38.68%. This figure rose to 41.18% at the end of April 2021.

Meanwhile, the ratio of government debt to GDP reached 58% in 1998. This ratio increased by 20 percentage points from the previous year's 38%.

The ratio of government debt to GDP continued to surge, reaching 89% in 2000. However, the figure declined in subsequent years and reached a low of 23% in 2012.

The 100th anniversary of the birth of Indonesia's second president, Soeharto, coincided with Tuesday, June 8, 2021. According to CNN Indonesia, one of Soeharto's daughters, Siti Hediati Hariyadi or Titiek Soeharto, said that her father would be saddened by Indonesia's current condition due to the accumulating national debt.