KOMPAS.com – Minister of Finance Sri Mulyani said Indonesia managed financing through issuing government debt better in July 2023 when compared to the same period in 2022.
This was reflected in the realization of debt issuance in July 2023, which contracted 17.8 percent from the same period last year, namely IDR 194.9 trillion, from IDR 237.0 trillion.
“When compared to last year’s debt financing, debt financing has decreased very sharply, namely 17.8 percent,” Sri Mulyani said in a press conference on the August 2023 edition of the KiTa State Budget, quoted from Antara, Saturday (12/8/2023).
Debt financing of IDR 194.9 trillion indicates that until July it had only reached 28 percent of the target of the State Budget (APBN) of IDR 696.3 trillion.
Also read: Comparing the Increase in Government Debt in the Era of Jokowi vs. SBY
In terms of issuance of Government Securities (SBN), the realization until July reached IDR 184.1 trillion or 25.8 percent of the APBN target of IDR 712.9 trillion.
Taking into account that state revenues and state spending are still well maintained, namely IDR 1,614.8 trillion and IDR 1,461.2 trillion respectively, Indonesia can reduce the issuance of SBN by up to 17.8 percent.
The State Treasurer said that this performance had made Indonesia successful in receiving an upgrade to a stable or positive outlook from the Rating and Investment Information, Inc (R&I) rating agency.
In addition, R&I also maintained Indonesia’s rating at BBB+, two levels above the lowest Investment Grade level.
Also read: The Government Debt Dilemma
“This illustrates that the risk assessment of the State Budget and Indonesia’s debt management is considered good, stable, even considered positive. In a sense, it means that the prospects will get better,” said Sri Mulyani.
He said this achievement was the impact of the performance of the state budget which was carefully maintained.
The positive performance has resulted in strong confidence in the economy and the State Budget, and risks are considered to be very well managed.
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2023-08-12 02:44:00
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