New Debt Withdrawal Realization 77.94 Percent Until October 2025

The Ministry of Finance noted that until October 31, 2025, the realization of debt withdrawals reached IDR 570.1 trillion for the financing needs of the 2025 State Budget.

Deputy Minister of Finance Suahasil Nazara said that the government set a projected withdrawal of debt throughout 2025 of IDR 731.5 trillion. Thus, the realization until the end of October has reached 77.94 percent of the total target.

"We will finance the 2025 State Budget by continuing to maintain the principles of prudence, flexibility and discipline in doing it within safe limits," said Suahasil in a press conference on our State Budget, quoted on Friday, November 21.

He added that the total debt financing of IDR 731.5 trillion was needed to cover the APBN deficit, which is estimated at 2.78 percent of GDP.

In addition, the government has also obtained DPR approval to take advantage of the remaining more budget (SAL) of IDR 85.6 trillion to reduce the need for issuance of state securities (SBN).

"We will continue to fulfill debt financing according to the ontrack with various risk mitigation measures including cash buffers, making prefunding if needed, as well as active cash and debt management," he said.

Furthermore, Suahasil said that SBN's market conditions showed improvement amid global uncertainty.

He noted that the spread yield of SBN Valas against US Treasury fell from 84 basis points (bps) at the beginning of the year to 57 bps in November 2025.

SBN spread yields against the 10-year US Treasury tenor also decreased from about 240 bps to 196 bps in the same period.

As a comparison, he said the spread yield of Mexican bonds against the US Treasury was still at the level of 478 bps.

"This reflects that we manage debt very prudently," he claimed