Indonesian Government Debt Ratio Approaches 40% of GDP

SOVEREIGN DEBT - JAKARTA. The Indonesian government's debt continues to pile up, reaching Rp 8.444,87 trillion by the end of June 2024, an increase of Rp 91,85 trillion or 1.09% from the previous month, according to the state budget document.

The government's debt-to-gross domestic product (GDP) ratio stands at 39.13%, a slight increase from the previous month's 38.71%. This figure is nearing the 40% level seen during the Covid-19 pandemic, when the debt-to-GDP ratio in December 2021 was 40.74%.