Unchanged, Debt Ratio Set By 39.96 Percent Of GDP 2026

JAKARTA - Finance Minister Sri Mulyani set the debt ratio in the 2026 Neagra Budget, Revenue and Expenditure Draft (RAPBN) at the level of 39.96 percent. According to him, this figure has not changed and remains the same for the last 3 years.

"The debt ratio is still at 39.96 percent, there has been no change in the last three years," Sri Mulyanid said, quoted on Saturday, August 16.

To control the debt ratio remains the same, the state treasurer said his ministry would use domestic debt sources to keep the debt ratio stable.

He also admitted that he would take advantage of innovative financing and actively manage portfolios.

The innovative financing will be encouraged by utilizing special mission vehicles (SMV) as well as cooperation with State-Owned Enterprises (BUMN) including Danantara.

He added that the budget financing policy in 2026 will also lead to optimization and synergy of public service agencies (BLU), special mission vehicles (SMVs), Indonesian Investment Authority (INA), and the Danantara Investment Management Agency (BPI).

Meanwhile, the remaining budget (SAL) will also be used as fiscal pads or fiscal buffers.

Quoted from Book II Financial Note 2026, during the period 2021 to the first semester of 2025 the ratio of government debt was relatively low in the range of 9 percent. In 2022, the debt ratio had reached 40.7 percent as a result of the national economic recovery program due to COVID 19, but fell again below 40 percent at the end of 2024 which reached 39.8 percent.

When compared to countries in Southeast Asia, Indonesia's debt ratio is relatively low, only slightly higher than Vietnam which is at the level of 32.9 percent. Meanwhile, other countries recorded debt ratios above 60 percent.