BI: Indonesia's ULN increases to US$431.7 billion in the fourth quarter of 2025
JAKARTA - Bank Indonesia (BI) reported that Indonesia's foreign debt (FDI) increased from 427.6 billion US dollars in the third quarter of 2025 to 431.7 billion US dollars in the fourth quarter of 2025, with a ratio of FDI to GDP of 29.9 percent.
BI Communication Department Executive Director Ramdan Denny Prakoso in a statement received by Antara, in Jakarta, Thursday, February 19, confirmed that the structure of the Indonesian ULN remained healthy, supported by the application of the principle of prudence in its management.
In addition to its ratio being maintained, BI noted that Indonesia's ULN is dominated by long-term tenors with a share of 85.7 percent of the total ULN.
In order to keep the ULN structure healthy, BI and the Government also continue to strengthen coordination in monitoring the development of ULN.
"The role of the ULN will also continue to be optimized to support financing for development and encourage sustainable national economic growth. These efforts are carried out by minimizing risks that can affect economic stability," said Ramdan.
More specifically, the government's ULN position in the fourth quarter of 2025 was recorded at US$214.3 billion, higher than the position in the third quarter of 2025 of US$210.1 billion.
The development of the ULN is influenced by the inflow of foreign capital into international State Securities (SBN) as long as investors' confidence in Indonesia's economic prospects in the midst of increasing global financial market uncertainty remains good.
As one of the instruments in financing the State Budget, the government's ULN is managed carefully, measured, and accountable with continued use to support the financing of priority programs to maintain fiscal sustainability and strengthen the national economy.
The use of the government's ULN is focused on supporting the health services and social activities sector (22.1 percent of the total government ULN), government administration, defense, and compulsory social security (19.8 percent), education services (16.2 percent), construction (11.7 percent), and transportation and warehousing (8.6 percent).
The government's ULN position is dominated by long-term debt with a share of 99.99 percent of the total government ULN.
Meanwhile, the position of private ULN was recorded at US$192.8 billion in the fourth quarter of 2025, down from the position of US$194.5 billion in the third quarter of 2025.
This development was influenced by the decline in the ULN of non-financial corporations.
Based on the economic sector, the largest private ULN comes from the processing industry sector; financial services and insurance; electricity and gas procurement; and mining and quarrying, with a share of 79.9 percent of the total private ULN.
Private ULNs are still dominated by long-term debt with a share of 76.3 percent of total private ULNs.