Government Debt Reaches Rp10.293 Trillion, Purbaya Says It is Still Far Below the 60 Percent Limit

Minister of Finance Purbaya Yudhi Sadewa (photo: Antara)

JAKARTA - Finance Minister Purbaya Yudhi Sadewa assessed that the government's debt still has the opportunity to decline until the end of 2026.

"It hasn't ended the year, later we will see what the growth will be at the end of the year. It should be able to go down a little bit. And if we look, it's still far below 60 percent," he told the media, quoted Thursday, August 13.

Based on data as of the end of June 2026, the total government debt was recorded at Rp. 10,293.69 trillion or equivalent to a debt ratio of 41.26 percent to GDP.

On the other hand, Purbaya also compared it with other countries in the region, one of which is Singapore, because Singapore's debt ratio is much higher compared to Indonesia.

"What is the percentage of Singapore? Singapore is 180 percent of GDP. So, we see it like that. If we look at debt sustainability or fiscal like that. We see it relative to the size of the economy," he said.

To control debt growth, Purbaya said the government would try to keep the deficit under control, and also increase the effectiveness of tax revenue.

He emphasized that this step does not mean raising the tax rate, but rather improving the system and mechanisms in the tax collection process.

"The strategy is that we will limit the deficit so that it is not too high. Then we will effectively collect our taxes. Not raising taxes, but we will clean up the way we operate to collect taxes," he explained.

For information, the outstanding government debt until the second quarter of 2026, was recorded at Rp. 10,293.69 trillion or increased by Rp. 373.2 trillion compared to the position in the first quarter of 2026 which was Rp. 9,920.42 trillion.

Based on data from the Directorate General of Financing and Risk Management of the Ministry of Finance (DJPPR Kemenkeu), the increase in outstanding debt makes the government's debt ratio to gross domestic product (GDP) at the level of 41.26 percent in the second quarter of 2026.

The calculation of the ratio uses the government's outstanding debt and the accumulated GDP based on the latest applicable prices, namely Rp. 6,552.1 trillion in the second quarter of 2026 and the previous three quarters.

"The government manages debt carefully and measuredly to achieve an optimal debt portfolio and support the development of the domestic financial market. The composition of government debt is mostly in the form of SBN instruments which reach 87.11 percent," quoted from the official website of the DJPPR Ministry of Finance, Wednesday, August 12.

In detail, the government's debt position until the first half of 2026 consists of SBN of IDR 8,966.79 trillion and loans of IDR 1,326.90 trillion.

Meanwhile, compared to the position in the first quarter of 2026, debt through the issuance of SBN increased by around IDR 313.9 trillion from the previous IDR 8,652.89 trillion, while loans increased by IDR 59.3 trillion from IDR 1,267.52 trillion.

In terms of realizing the state budget, the government has recorded fiscal financing of Rp. 452 trillion until the end of June 2026 or equivalent to 59.4 percent of the target set in the state budget.