Researcher: Future Government Must Pay Attention To Investment Financing For BUMN Karya

Illustration. (Photo: Doc. Antara)

JAKARTA - Researcher at the Center for Macroeconomics and Finance at the Institute for Development of Economics and Finance (Indef) Riza Annisa Pujarama stated that the next government needs to pay attention to investment financing in BUMN works so as not to burden the 2025 State Budget.

The government has set investment financing in the 2025 RAPBN of Rp. 154.5 trillion, with Rp. 59.5 trillion allocated for investment in BUMN and the Public Service Agency (BLU) in the fields of infrastructure, health, defense, education, international cooperation, and other fields according to government priorities.

"In the 2025 RAPBN, investment financing is also high, especially in BUMN, which is assigned. This also needs to be considered because BUMN works also experience various obstacles and problems from the financial aspect," said Riza Annisa Pujarama, quoted from Antara, Monday, August 19.

With this problem, he also asked the next government to pay attention to the financial condition of the state-owned enterprises, especially the ability of these state-owned companies to pay off debts.

This, he continued, was because the state budget would again become a financial bumper if the business entity could not pay their obligations.

"We still depend on the debt to cover the debt as well. Debt financing has also increased, yes, and this also affects the 2025 RAPBN," said Riza.

He said that the maturing debt that needs to be paid by the upcoming government according to the 2025 RAPBN is IDR 775.9 trillion.

This figure is higher than the one set in the 2024 State Budget of IDR 648.1 trillion and the 2024 financing outlook of IDR 553.1 trillion.

However, he said that the amount of debt that needs to be paid next year does not include debt interest which is estimated at Rp552.55.85 trillion.

With the increase in debt payments, Riza stated that the estimated deficit figure also increased from Rp522.8 trillion in the 2024 APBN to Rp616.2 trillion in the 2025 RAPBN.

In addition to the rising deficit, he said that other risks were yields of 10-year government bonds which also increased.

Yield's Indonesian government bonds are the highest among Southeast Asian countries, which is 6.7 percent.

"So this is burdensome in the future for more debt withdrawals and this needs effort to reduce the government's SBN bond yield," he added.