Ministry Of Finance Says Issuance Of SBN Is Still On Track To Meet The Needs Of This Year's State Budget

Rupiah (Photo: Antara)

JAKARTA - The Ministry of Finance (Kemenkeu) stated that the issuance of Government Securities (SBN) is still running according to the target (on track) to fulfill the 2024 State Revenue and Expenditure Budget (APBN) financing.

Director General of Financing and Risk Management of the Ministry of Finance (Kemenkeu) Suminto said

Based on the outlook reported in the Working Meeting of the DPR RI Budget Agency with the Minister of Finance and Bank Indonesia, the Director General of Financing and Risk Management of the Ministry of Finance (Kemenkeu) Suminto said the target for issuing SBN is now lower when compared to the initial target.

"In terms of issuance of SBN, thank God on track in the context of meeting the financing needs of the 2024 State Budget," Suminto quoted Antara as saying.

This, according to him, is because the Government uses various instruments to meet the needs of state spending, not only from the issuance of SBN.

Suminto assessed that the current performance of the SBN market is quite good with a maintained and controlled yield level as well as a fairly strong incoming bid.

He stated that this was the result of the Government's efforts to maintain the credibility of the national economy in the midst of the dynamics of a global situation that was still filled with uncertainty, thereby increasing investor confidence.

"SBN is an instrument that is tradable (to be traded), so activities in the market will form a SBN yield," he explained.

Although the development of the SBN yield is strongly influenced by the market, Suminto said that the Government is still trying to manage its supply risk so that the yield level remains under control.

"Of course the government has an interest in making the SBN yield rational so that the Government of course in the issuance of SBN has an issuance strategy," he added.

Minister of Finance Sri Mulyani Indrawati at a meeting with the DPR RI in Jakarta, Monday (8/7), estimated the yield of SBN for 10 years in the range of 6.9 7.1 percent in Semester II 2024.

In Semester I, he said, the realization of the SBN yield level was around 6.85 percent, or above the 2024 State Budget assumption of 6.7 percent.