Breakdown of Indonesia's Debt Servicing Bill, How Much Must Be Paid?

Jakarta, CNBC Indonesia — The Supreme Audit Agency (BPK) recorded the central government’s debt payment obligations at Rp567.60 trillion throughout 2025. This figure rose by Rp43.45 trillion, or 8.29%, compared with 2024’s Rp524.15 trillion.

“The Debt Payment Obligation Burden in 2025 increased by Rp43,448,708,300,990, or 8.29%,” as stated in the audited 2025 Central Government Financial Statements (LKPP).

Of the total, the largest component came from interest on state securities (SBN) at Rp505.08 trillion, up from Rp472.55 trillion in 2024.

Next, interest on loan instruments reached Rp49.31 trillion, up from Rp40.60 trillion. Meanwhile, the discount burden that adds to interest expense was recorded at Rp13.21 trillion, previously Rp10.99 trillion.

BPK noted the largest increase was in the interest payment component for rupiah-denominated state bonds, which rose by Rp19.74 trillion, or 5.86%, from Rp337.02 trillion to Rp356.77 trillion.

Among other SBN components, the long-term SBSN (state sharia securities) remuneration payment burden reached Rp81.47 trillion, from Rp76.09 trillion previously.

Interest payments on foreign currency-denominated state bonds were recorded at Rp48.68 trillion, up from Rp43.91 trillion, while long-term foreign currency SBSN remuneration payments reached Rp17.45 trillion, from Rp14.86 trillion previously.

Within the loan instrument group, programme loan interest reached Rp21.97 trillion, up from Rp18.01 trillion, whilst project loan interest was recorded at Rp18.86 trillion, up from Rp14.79 trillion.

Domestic loan interest payments also increased, from Rp2.66 trillion to Rp3.38 trillion.

The LKPP also explains the difference between the interest burden in the Operational Report and debt interest payments in the Budget Realisation Report.

The debt payment obligation burden in the Operational Report reached Rp567.60 trillion, whilst debt interest payment expenditure in the Budget Realisation Report was recorded at Rp514.39 trillion.

The difference stems from the recognition and recording of Bank Indonesia’s contribution as revenue, the recognition of interest expense on interest-bearing debt, and the discount burden on state securities in 2025.

The discount burden that adds to interest expense increased by Rp2.21 trillion, or 20.14%, to Rp13.21 trillion. This figure includes the discount burden on short-term SBN, namely State Treasury Bills (SPN) and Sharia State Treasury Bills (SPNS).

CNBC Indonesia Research