{
    "success": true,
    "data": {
        "id": 1725210,
        "msgid": "government-debt-totals-rp9-920-trillion-by-end-of-march-2026-equivalent-to-40-75-of-gdp-1778201541",
        "date": "2026-05-08 07:00:14",
        "title": "Government Debt Totals Rp9,920 Trillion by End of March 2026, Equivalent to 40.75% of GDP",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Finance",
        "summary": "The Indonesian government's debt reached Rp9,920.42 trillion by the end of March 2026, representing 40.75% of GDP, which remains well below the 60% legal threshold. This marks an increase of Rp282.52 trillion from the end of December 2025, primarily driven by higher issuance of government securities (SBN) and loans. The government is actively managing debt to optimise its portfolio and support domestic financial market development, with a notable rise in the absorption ratio of auction bids for SBN from 30.85% in 2025 to 48.65% in early 2026, indicating stronger market participation.",
        "content": "<p>The Directorate General of Financing and Risk Management (DJPPR) of\nthe Ministry of Finance has announced the latest government debt\nposition of Rp9,920.42 trillion as of the end of March 2026. This debt\nlevel equates to 40.75% of gross domestic product (GDP), still far below\nthe safe limit set by the State Finance Law of 60% of GDP. Nevertheless,\nthis figure reflects an increase, with an addition of approximately\nRp282.52 trillion compared to the end of December 2025 figure of\nRp9,637.9 trillion. At the end of last year, the government debt was\nequivalent to 40.46%. \u201cThe government manages debt prudently and in a\nmeasured manner to achieve an optimal debt portfolio and support the\ndevelopment of the domestic financial market,\u201d quoted from the DJPPR\nMinistry of Finance report, Friday (8\/5\/2026). The composition of\ngovernment debt as of 31 March 2026, totalling Rp9,920.42 trillion, is\npredominantly from the issuance of Government Securities (SBN) worth\nRp8,652.89 trillion. This increased by Rp265.66 trillion from the 31\nDecember 2025 figure of Rp9,637.9 trillion. Additionally, loans amounted\nto Rp1,267.52 trillion, up by Rp16.85 trillion over the past three\nmonths, compared to Rp1,250.67 trillion at the end of last year. For\ncontext, based on CNBC Indonesia\u2019s research team notes, the government\nis indeed aggressively raising debt in the bond market, leading to\nquarterly accumulations. This is reflected in the increased ratio of\nfunds absorbed by the government from auctions of Government Securities\n(SBN) in early 2026 compared to throughout 2025. According to data from\nthe DJPPR Ministry of Finance, throughout 2025, total bids in auctions\nfor SUN and SBSN reached approximately Rp2,974.65 trillion. From this\namount, the government took around Rp917.55 trillion. This means the\nratio of funds taken by the government to total bids throughout 2025 was\naround 30.85%. However, in 2026, the portion has increased sharply. Up\nto 5 May 2026, total bids in auctions for SUN and SBSN reached\napproximately Rp865.66 trillion. From this, the government took around\nRp421.10 trillion. Thus, the ratio of funds taken by the government to\ntotal bids rose to around 48.65%. If in 2025 the government took about\nRp31 from every Rp100 in offers or only a third, in 2026 the portion has\nrisen to nearly Rp49 from every Rp100 in offers or approaching half of\nthe total offers received.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/government-debt-totals-rp9-920-trillion-by-end-of-march-2026-equivalent-to-40-75-of-gdp-1778201541",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}