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Minister: Rp 3.67q government debt no cause for concern
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Finance Minister Sri Mulyani Indrawati (left) reads out letters written by national women's emancipation heroine Kartini at the Bank Indonesia Museum in Jakarta on April 11. It was an event held to celebrate Kartini Day on April 21. (Antara/Wahyu Putro)
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inance Minister Sri Mulyani has said there is no cause for concerning regarding government debt reaching Rp 3.67 quadrillion (US$274.23 billion) in April, Rp 201 trillion more than in December 2016.
“We will always protect the Indonesian economy and manage debt carefully and transparently,” said Sri Mulyani as reported by tribunnews.com on Monday.
She stressed that government debt was at a safe level as it was below 30 percent of gross domestic product (GDP). She added that the position was much better than that of Brazil, Mexico and Argentina.
She also said state budget deficit was less that 3 percent of GDP, which was better than India's, for example. The government was forced to borrow money to cover the state budget deficit.
The 2017 state budget is Rp 2 quadrillion.
Sri Mulyani stressed that people needed to know about government debt.
“We hope the people understand. They need to know why the government has to borrow money and how it is managed so that the condition does not make them worry,” she added. (bbn)
