Indonesia's Government Debt Ratio is the 3rd Lowest in the G20 Group

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Adi Ahdiat 19/12/2023 13:50 WIB

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According to IMF projections, Indonesia's government debt-to-GDP ratio in 2023 will be only 39%, the third lowest in the G20.

Government Debt-to-GDP Ratio Projections for G20 Countries (2023)*

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Indonesia's Government Debt Ratio is the 3rd Lowest in the G20 Group

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Government Debt-to-GDP Ratio Projections for G20 Countries (2023)*

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The G20 is an organization comprising countries with large global economies, including Indonesia.

However, many G20 members have a high debt-to-gross domestic product (GDP) ratio.

The debt-to-GDP ratio is one indicator of a country's economic health.

According to a World Bank study titled *Finding the Tipping Point—When Sovereign Debt Turns Bad* (2010), a country's economic growth risks slowing if its debt-to-GDP ratio exceeds 77% in the long term.

Indonesia's debt ratio is still far below this risk threshold.

Based on projections by the International Monetary Fund (IMF), Indonesia's government debt ratio in 2023 is only 39% of total GDP, the third lowest in the G20 group.

"The position of the Indonesian government's external debt is relatively safe and controlled, considering that almost all external debt has a long-term tenor," said Erwin Haryono, Head of the BI Communication Department, in a press release on Friday (12/15/2023).

On the other hand, 11 G20 members have debt ratios above 77%, exceeding the World Bank's risk threshold.

These countries are Japan, Italy, the United States, France, Canada, the United Kingdom, Argentina, Brazil, the European Union, China, and India.

Other G20 members have debt ratios below 77%, namely South Africa, Germany, South Korea, Mexico, Australia, Saudi Arabia, and Russia, as shown in the graph.

There is one more G20 member, Turkey. However, its debt ratio is not recorded in the IMF database.

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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Indonesia's Government Debt Ratio is the 3rd Lowest in the G20 Group

Indonesia's Government Debt Ratio is the 3rd Lowest in the G20 Group

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Indonesia's Government Debt Ratio is the 3rd Lowest in the G20 Group

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