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Indonesia’s foreign debt sees slow growth in November
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The Bank Indonesia logo is seen on the main gate of the central bank's headquarters in Jakarta. (Antara/File)
I
ndonesia saw its external debt continue to grow slowly last November as companies reduced foreign loan, Bank Indonesia (BI) data has showed.
The data showed that Indonesia’s foreign debt grew by 3.6 percent year-on-year (yoy) to US$316 billion as of November last year, slower compared to the 6.5 percent yoy growth a month earlier.
“The slower growth was mainly contributed by deceleration in the public sector’s external debt and the decline in private ones. The deceleration occurred both in long- and short-term foreign debts,” the central bank said in a statement on Monday.
(Read also: Indonesia allocates 10% of 2017 spending to pay down debt)
Private sector foreign debt declined by 3.4 percent yoy in November, lower than 2 percent yoy in October. Meanwhile, public sector foreign debt also declined by 12.1 percent yoy, from 17 percent yoy in October.
Indonesia’s foreign debt in November was dominated by the private sector with 51.5 percent.
More than 76 percent of the private sector’s external debt in November was contributed by the financial, processing, mining, electricity, gas and water sectors.
“BI sees that external debt development in November last year remained relatively healthy, but will still be aware about the risk toward the national economy. BI will continue monitoring this development, particularly in the private sector’s external debt,” the central bank wrote. (bbn)
