Government Debt Increases Capai IDR 8,338 Trillion

Rupiah (Photo: Antara)

JAKARTA - The Ministry of Finance (Kemenkeu) noted that until the end of April 2024, the government's debt position had increased by IDR 76.33 trillion, an increase of around 0.92 percent to IDR 8,338.43 trillion compared to the debt position at the end of March 2024 which amounted to IDR 8,262.1 trillion.

Based on the KiTa State Revenue and Expenditure Budget (APBN) document, the ratio of government debt to Gross Domestic Product (GDP) is 38.64 percent. This figure is lower than the previous month which reached 38.79 percent.

As for the KiTa State Budget document, the debt ratio recorded at the end of April 2024 is still below the safe limit of 60 percent of GDP in accordance with Law Number 17 of 2023 concerning State Finance and better than what has been established through the 2024-2027 Medium-Term Debt Management Strategy in the range of 40 percent.

In addition, government debt is dominated by State Securities (SBN) instruments whose contribution is 87.94 percent. Until the end of April 2024, the issuance of SBN was recorded at IDR 7,333.11 trillion. This value is higher than the previous month's IDR 7,274.95 trillion. This issuance is divided into domestic SBN and foreign currency SBN (foreign currency).

Meanwhile, Domestic SBN was recorded at IDR 5,899.2 trillion, which was divided into Government Securities (SUN) amounting to IDR 4,714.08 trillion and State Sharia Securities (SBSN) amounting to IDR 1,185.12 trillion.

Meanwhile, the recorded SBN Valas amounted to Rp1,433.90 trillion, with details, SUN of Rp1,077.05 trillion and SBSN of Rp356.85 trillion.

On the other hand, the government debt contributed 12.06 percent of the government loan debt until the end of April 2024 which amounted to Rp1,005.32 trillion. This figure also increased compared to the previous month of Rp987.15 trillion.

Meanwhile, this loan is planned in two categories, namely domestic loans as much as Rp36.04 trillion and foreign loans amounting to Rp969.28 trillion.

Foreign loans came from bilateral loans of IDR 266.24 trillion, multilateral loans of IDR 586.13 trillion, and commercial bank loans of IDR 116.91 trillion.