The Government Affirms That SBN Is A State Budget Financing Strategy, Not Just Debt

Minister of Finance Sri Mulyani Indrawati emphasized that the Government Securities (SBN) used to finance the State Revenue and Expenditure Budget (APBN) are not merely a burden for the state.

He conveyed that SBN is also an investment instrument that is managed carefully and functions as an APBN financing strategy.

"We would like to invite the DPR to look at the State Securities instrument not merely as a burden to the state and state budgets. However, let's look at it from the demand side or the request," he said at the 24th DPR Plenary Meeting. Session Period IV Session Year 2024-2025, Tuesday, July 15.

He explained that SBN is currently a much-needed investment instrument by various parties, such as various institutions, ranging from pension fund managers, insurance companies, banks, to the general public, making SBN a safe and reliable investment instrument.

"So we will continue to provide education about the role of SBN which is not only seen as a government debt, but is a true investment tool and is trusted by its holders, both small communities, housewives, students to pension institutions and long-term fund holders," he said.

For information for 2025, the government targets the issuance of SBN of IDR 642.56 trillion and until the first semester of 2025, the realization has reached IDR 308.55 trillion, so that around IDR 334 trillion remains which is planned to be issued in the second semester of 2025.

Meanwhile, based on data from the Directorate General of Financing and Risk Management of the Ministry of Finance as of July 11, 2025, the total value of SBN that can be traded reached IDR 6,343.37 trillion, an increase from the position at the end of 2024 which was recorded at IDR 6,039.52 trillion.

As for the total, the banking sector, both conventional and sharia, holds around 20 percent or Rp1,268.51 trillion. Meanwhile, non-bank investors, such as mutual funds, insurance companies, pension funds, and foreign investors, control around 55.68 percent or Rp3,532.3 trillion

Meanwhile, Bank Indonesia also played a role in purchasing SBN as part of efforts to maintain exchange rate stability, with SBN ownership recorded at IDR 1,542.55 trillion (neto) as of July 11, 2025.

Meanwhile, individual ownership by the Indonesian people over SBN has reached IDR 586.3 trillion or around 9.24 percent of the total outstanding SBN value.