JAKARTA - The Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance reported that the total government debt as of March 31, 2026 reached Rp. 9,920.42 trillion or increased by Rp. 282.52 trillion compared to the position at the end of December 2025 which was recorded at Rp. 9,637.90 trillion.
Meanwhile, when compared to Gross Domestic Product (GDP), the government debt ratio is at the level of 40.75 percent or higher than the end position of 2025 which is 40.46 percent of GDP.
However, this ratio is still below the maximum limit of 60 percent of GDP as stipulated in the State Budget Law.
In a report published on the DJPPR official website, the government emphasized that debt management was carried out carefully and measured to maintain an optimal debt portfolio while supporting the development of the domestic financial market.
"The government manages debt carefully and measuredly to achieve an optimal debt portfolio and support the development of the domestic financial market," the report said, quoted on Friday, May 8.
Based on its components, government debt consists of State Securities (SBN) and loans.
DJPPR said that the dominance of SBN instruments shows that the government's financing structure is still based on the issuance of government securities.
Until the end of March 2026, the largest portion still comes from SBN which reaches Rp8,652.89 trillion or equivalent to 87.22 percent of total debt. Meanwhile, loans were recorded at Rp1,267.52 trillion or 12.78 percent.
"The composition of government debt is mostly in the form of SBN instruments which reach 87.22 percent," he wrote.
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