In Front Of The DPD, Bank Indonesia Explains The Government's Debt Is Safe

Illustration (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) stated that the position of government debt is still in a maintained condition. This was conveyed by BI Senior Deputy Governor Destry Damayanti when attending a working meeting with the Regional Representative Council (DPD).

"If you want to be honest, our debt is 39 percent of gross domestic product (GDP), down from 2021 which is 41 percent of GDP and 2022 which is 39.57 percent of GDN," he said at the Senayan Parliament Complex, Jakarta in the middle of this week.

According to Destry, this figure is far from the provisions in Law Number 17 of 2013 concerning State Finances which mandates a maximum of 60 percent of GDP.

"The national standard is 60 percent GDP so it's relatively safe," he said.

Destry also said that if there was an increase in the value of debt, it would always be accompanied by an increase in gross domestic product.

Utang may go up but our GDP will increase. This means that there is an increasing productivity," he asserted.

VOI noted, in the APBN report for the April 2023 period, it was stated that the amount of government debt was IDR 7,849.8 trillion. This amount is lower by around IDR 29.1 trillion if from the March period which was the beginning of Ramadan of IDR 7,879 trillion.

"The debt ratio (per April) to GDP is 38.15 percent," the Ministry of Finance said in a statement.