Indonesia's External Debt Reaches US$433.4 Billion in Q1-2026
Bank Indonesia (BI) reported that Indonesia's foreign debt position (ULN) in the first quarter of 2026 was recorded at US$433.4 billion.
The Executive Director of the Communication Department, Ramdan Denny Prakoso, said that Indonesia's external debt position in the first quarter of 2026 grew slowly.
However, on an annual basis, ULN Indonesia in the first quarter of 2026 grew by 0.8 percent, or slowed down compared to the growth in the fourth quarter of 2025 of 1.9 percent.
"The development of the ULN position is influenced by the public sector ULN and the private sector ULN," he said in a statement, Monday, May 18.
Denny added that the government's ULN position in the first quarter of 2026 was US$ 214.7 billion, or grew by 3.8 percent (yoy), lower than the growth in the fourth quarter of 2025 of 5.5 percent (yoy).
"The development of the government's ULN is mainly influenced by the inflow of foreign capital into international State Securities (SBN) in line with maintaining investor confidence in Indonesia's economic prospects," he said.
He added that as one of the financing instruments of the State Budget (APBN), the government's ULN is managed carefully, measured, and accountable with continued utilization to support government priority spending and take advantage of the momentum of economic growth.
Based on the economic sector, the government's ULN is used to support the Health Services and Social Activities Sector (22.1 percent of the total government ULN); Government Administration, Defense, and Mandatory Social Security (20.2 percent); Education Services (16.2 percent); Construction (11.5 percent); and Transportation and Warehousing (8.5 percent).
"The government's ULN position is dominated by long-term debt with a share of 99.99 percent of the total government ULN," he said.
In addition, the position of private ULN in the first quarter of 2026 was recorded at US$ 191.4 billion, down from the position in the fourth quarter of 2025 of US$ 194.2 billion, or an annual contraction of growth of 1.8 percent (yoy).
He added that the decline in the ULN position occurred in the group of borrowers of financial institutions (financial corporations) and the ULN of non-financial corporations, which were recorded as contracting by 3.6 percent (yoy) and 1.3 percent (yoy) respectively.
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 80.4 percent of the total private ULN.
"Private ULNs are still dominated by long-term debt with a share of 76.6 percent of total private ULNs," he said.
However, Denny said that the structure of ULN Indonesia remained healthy, supported by the application of the principle of prudence in its management.
According to him, this is reflected in Indonesia's ULN ratio to Gross Domestic Product (GDP) which fell to 29.5 percent in the first quarter of 2026 from 30.0 percent in the fourth quarter of 2025, and is dominated by long-term ULNs with a share of 85.4 percent of the total ULN.
He said that in order to keep the ULN structure healthy, Bank Indonesia and the Government 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," he explained.