Muhammad Hendartyo, Jakarta – The Finance Ministry recorded the government debt stood at Rp6,233.14 trillion at the end of January 2021. The government debt-to-GDP ratio is 40.28 percent.
In terms of size, the debt has risen from 2019, which the 'APBN Kita' book says is related to process of recovering the economy that is weakened by to the Covid-19 pandemic.
In terms of composition, government debt was still dominated by SBNs (state securities), which accounted for Rp5,383.55 trillion or 86.37 percent of total debt.
In terms of currency, the central government's debt is increasingly dominated by rupiah-denominated loans, which accounted for 66.51 percent. This is in line with Indonesia's debt management policy that prioritizes domestic sources and the use of foreign currency as a complement to support foreign currency debt risk management.
The Finance Ministry said the pandemic had caused economic slowdowns around the world. Countries have taken extraordinary measures, including raising debts. Compared to other nations, particularly ASEAN members and G20 countries, Indonesia's debt-to-GDP ratio is considerably lower.