Finance Ministry Remains Coy About Indonesia's Rp7,000tn Debt

1 December 2022 21:51 WIB

TEMPO.CO, JakartaThe Finance Ministry in an event aired on Youtube on Thursday said that the Indonesian government’s debt as of October reached Rp7,496 trillion, which according to the Finance Minister Sri Mulyani is still within the safe threshold set by the government. 

“Indonesia’s debt is still safe, but it must be managed prudently and with competence,” said the Minister on December 1. 

According to Mulyani, global inflation which has reached its highest point in the last 40 years has led to increasing interest rates.

The debt value is equivalent to 38.36 percent of Indonesia's gross domestic product (GDP), or lower than the similar period last year which amounted to 39.69 percent. However, when compared to the previous month, the government's debt in October rose from the position of Rp7,420.47 trillion as of September.

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

MOH KHORY ALFARIZI 

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