Coordinating Ministry for Economic Affairs Comments on S&P Global Ratings Report

Deputy for Coordination of State-Owned Enterprise Management and Development at the Coordinating Ministry for Economic Affairs, Ferry Irawan, has commented on the latest assessment from Standard & Poor’s Global Ratings (S&P). According to him, this achievement demonstrates that national economic resilience remains recognised amidst global economic uncertainty. “So, with yesterday’s S&P rating, Indonesia remains at an investment-grade rating,” Ferry said at the Risk and Governance Summit 2026 at Hotel Bidakara Jakarta on Tuesday, 14 July 2026. S&P Global Ratings on Monday maintained Indonesia’s debt rating at BBB with a stable outlook. In its report, S&P assessed that the outlook is supported by Indonesia’s economic resilience amid global uncertainty and maintained fiscal prospects. The BBB rating places Indonesia in the investment-grade category. Ferry said this status is not only maintained by S&P but also by two other international rating agencies, Moody’s and Fitch. According to him, S&P also maintained Indonesia’s debt rating at the triple B level with a stable outlook. This assessment, Ferry said, reflects the rating agency’s confidence in Indonesia’s strong economic fundamentals amid global economic dynamics. He said various international institutions are also still providing positive projections for the Indonesian economy. The International Monetary Fund (IMF) maintained its projection for Indonesia’s economic growth at 5 percent in 2026, while the Asian Development Bank (ADB) is still projecting Indonesia’s economic growth at 5.2 percent. According to Ferry, this condition signals that Indonesia’s economic resilience is still maintained compared to a number of countries in the region that have actually experienced a decline in growth projections. Furthermore, Ferry assessed that this momentum must be maintained through strengthening governance and consistent policies. According to him, increasing institutional effectiveness, transparency, policy certainty, and strengthening financial market infrastructure are the foundations for maintaining investor confidence and encouraging sustainable economic growth.