Indonesia's Debt Reaches IDR 7,014 Trillion, Sri Mulyani: The Ratio Is Relatively Low Than Countries Around The World

JAKARTA - Minister of Finance Sri Mulyani gave a response related to the condition of government debt which currently has reached IDR 7,014.58 trillion.

In a virtual press conference of the Financial System Stability Committee (KSSK), the state treasurer revealed that the government continues to make efforts to strengthen the structure of the State Revenue and Expenditure Budget (APBN) as well as economic recovery measures.

"The condition of Indonesia's debt, I say, continues to carry out fiscal consolidation to maintain the health of our state budget", she said on Wednesday, April 13.

According to the Minister of Finance, Indonesia is a country that is quite good at managing finances. He then compared this condition with several other countries in the region which he considered to be facing a much more difficult situation than Indonesia.

"Our debt ratio is relatively low whether measured by ASEAN countries, G20 countries, or even the whole world", she said.

For information, in Law Number 17 of 2003 concerning State Finances, it is stated that the limit on debt allowed is a maximum of 60 percent of gross domestic product (GDP).

The debt book of IDR 7,014.58 trillion is the latest report by the Ministry of Finance until February 2022. This figure is equivalent to 40.17 percent of GDP.

VOI noted that February's score was higher than January 2022 which amounted to IDR 6,919.15 trillion. This means that there is an increase in government debt of IDR 95.43 within a month.

"We will continue to guard it very carefully and prudently", concluded Minister of Finance, Sri Mulyani.