Government Debt Rises to Rp8.338 Trillion in April 2024

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Adi Ahdiat 07/06/2024 13:12 WIB

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According to the Ministry of Finance's report, the government's debt value reached Rp8,338.43 trillion as of April 30, 2024, an increase of approximately Rp76 trillion from the previous month.

Government Debt and Ratio to GDP (January-April 2024)

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Government Debt Rises to Rp8.338 Trillion in April 2024

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Government Debt and Ratio to GDP (January-April 2024)

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According to the Ministry of Finance (Kemenkeu) report, the value of government debt as of April 30, 2024, reached Rp8,338.43 trillion, or Rp8.34 quadrillion.

The majority of this debt (71.18%) is sourced domestically. Broken down by instrument, the largest portion (87.94%) consists of State Bonds (Surat Berharga Negara or SBN).

Overall, the value of government debt in April 2024 increased by approximately Rp76 trillion compared to March 2024.

However, when viewed as a ratio to Gross Domestic Product (GDP), the government debt ratio in April 2024 reached 38.64%, slightly lower than the previous month.

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

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

"On April 16, 2024, Moody's reaffirmed Indonesia's Sovereign Credit Rating at Baa2, one level above investment grade, with a stable outlook," as quoted from the May 2024 edition of the *APBN Kita* report.

"Moody's views this affirmation as consistent with its assessment that Indonesia's economic resilience remains strong, supported by high and stable economic growth," it continued.

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."