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Indonesia’s debt financing realization reaches Rp 198.9t as of September 2023
Finance Minister Sri Mulyani said the realization of debt financing stood at Rp 198.9 trillion as of September due to a surplus in the national budget.
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Government debt-to-GDP ratio. (JP/IMF, Finance Ministry)
T
he financing realization of debt issuance as of September 2023 reached Rp 198.9 trillion (US$12.5 billion). The low new debt issuance can be attributed to the fact that the country’s revenue is still growing positively, leading to a surplus in the national budget.
The debt issuance consisted of government securities (SBN) of Rp 181.4 trillion and loans at Rp 17.4 trillion.
“Up to September, the realization of our debt financing has actually been very small. This Rp 198.9 trillion means that we have only achieved 28.6 percent of the debt financing allocation set in the State Budget Law,” said Finance Minister Sri Mulyani during a press conference on Wednesday.
The Finance Ministry is actively monitoring the fluctuations in the SBN market, which are influenced by global pressures impacting SBN issuance performance. According to Sri, a 2.3 percent deficit is expected in 2023, which is lower than the initial State Budget target of 2.84 percent.
Sri said her ministry would carefully manage the 2023 State Budget to ensure that the year-end outcome still indicated a deficit for the next two months. The ministry’s goal is to maintain a deficit below 2.3 percent of the gross domestic product (GDP), but it will remain vigilant on the debt issuance side.
