Down! Indonesia's Government Secures Only Rp 185.3 Trillion in New Debt in February 2026

Jakarta — Indonesia’s government drew new debt totalling Rp 185.3 trillion through the end of February 2026. This figure represents a decline compared to February 2025, when debt issuance reached Rp 249.9 trillion.

Deputy Finance Minister Juda Agung stated that the government’s budget financing policy direction employs a strategy focused solely on ensuring adequate state cash availability.

“This is to ensure adequate cash availability whilst maintaining financing flexibility to respond to market dynamics that occur,” said Juda during a state budget press conference at his office in Jakarta on Wednesday, 11 March 2026.

Juda explained that the debt drawn represented approximately 22.3 per cent of the 2026 state budget target of Rp 832.2 trillion.

The figure had also been reduced by non-debt financing requirements totalling Rp 21.1 trillion. Debt financing was larger in February 2026 because in the same period of the previous year it amounted to only Rp 3.9 trillion.

With these considerations, total budget financing realisation through February 2026 reached Rp 164.2 trillion, representing only 23.8 per cent of the 2026 state budget target of Rp 689.1 trillion, equivalent to the 2026 state budget deficit target.