Indonesia's Debt Reaches Nearly Rp7,500tn per October: Finance Ministry

28 November 2022 10:08 WIB

TEMPO.CO, JakartaIndonesia’s Finance Ministry recorded the government's debt position at Rp7,496.7 trillion at the end of October 2022.

This debt to gross domestic product (GDP) ratio was 38.36 percent, a decrease from last year’s period of 39.69 percent.

When compared to the previous month, however, the government's debt in October 2022 rose from September’s Rp7,420.47 trillion.

“There was an increase in the amount and debt ratio at the end of October 2022 when compared to last month,” wrote the Finance Ministry in the November 2022 edition of Our State Budget book quoted on Sunday, November 27, 2022.

SBN Dominates State Debt

Based on the type, the government’s debt position was dominated by Government Securities (SBN) at 88.97 percent. Meanwhile, based on the currency, the government's debt was dominated by the rupiah currency at 70.54 percent of the total debt.

The large ratio of debt in rupiah, according to the Finance Ministry, could be a strength in dealing with high volatility in foreign currencies and the impact on payment of foreign debt obligations.

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