Government Debt in May 2024 Rises to Rp8.353 Trillion

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Adi Ahdiat 03/07/2024 10:57 WIB

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Government debt as of May 31, 2024, reached Rp8,353.02 trillion, an increase of Rp14.59 trillion or 0.2% compared to April 2024.

Indonesia's Government Debt and Ratio to GDP (January-May 2024)

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Indonesia's Government Debt and Ratio to GDP (January-May 2024)

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According to the Ministry of Finance (Kemenkeu), Indonesia's government debt reached Rp8.353,02 trillion (Rp8.35 quadrillion) as of May 31, 2024.

This represents an increase of Rp14.59 trillion, or 0.2%, compared to April 2024.

The government debt-to-Gross Domestic Product (GDP) ratio also rose from 38.64% in April 2024 to 38.71% in May 2024.

However, the government stated that this ratio remains below the safe limit.

Law Number 17 of 2003 concerning State Finance sets the safe limit for the government debt ratio at a maximum of 60% of GDP.

As of May 2024, the majority of government debt (71.12%) originated from domestic sources.

Broken down by instrument, the majority of government debt (87.96%) consists of State Bonds (SBN), with the remaining 12.04% being loans.

According to Kemenkeu, as of the end of May 2024, the government debt profile is quite safe, with an average time to maturity of approximately 8 years.

Kemenkeu also stated that Indonesia's economic conditions remain relatively good.

"Disciplined management of government debt has supported the assessments of credit rating agencies (S&P, Fitch, Moody's, R&I, and JCR), which to date continue to maintain Indonesia's sovereign rating at investment grade," as quoted from the June 2024 edition of the *APBN Kita* report.

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."

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Government Debt in May 2024 Rises to Rp8.353 Trillion

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