Finance Minister Assures Whoosh High-Speed Rail Debt Burden on State Budget Not Substantial
Finance Minister Purbaya Yudhi Sadewa has assured the government that it will continue to fulfil its debt payment obligations for the Jakarta-Bandung High-Speed Rail project, also known as Whoosh, despite risks of budget pressure from rising global crude oil prices.
Global oil prices surged sharply on Monday morning, 9 March 2026. By 09:20 West Indonesia Time, Brent crude was recorded at US$113.68 per barrel, whilst West Texas Intermediate (WTI) stood at US$113.25 per barrel.
Crude oil price increases above macroeconomic assumptions in the state budget could potentially push up the deficit. However, Purbaya assured that whilst such risks exist, the state budget still has considerable room to meet its obligations, including the Whoosh project debt to China, which is not particularly large.
“Yes, it’s fine, it’s not that substantial,” said Purbaya at Tanah Abang in Jakarta on Monday, 9 March 2026.
Nevertheless, Purbaya has not disclosed the exact scale of the Whoosh project debt burden that will be borne by the state budget, including the overall project debt burden. He merely stressed that the project debt issue has not seen further discussion within government to date.
“We’ll see how it goes. But not yet,” Purbaya said.
Previously, PT KAI (Persero) Chief Executive Bobby Rasyidin revealed that the government has provided a solution guaranteed by President Prabowo Subianto regarding the settlement of the Jakarta-Bandung High-Speed Rail project debt.
“Yes, it’s settled, the President said so at the time. It’s settled, it’s settled,” he said when met at the Indonesian Parliament building in Jakarta on Monday, 9 February 2026.
Prabowo had indeed previously emphasised that the government must pay Rp 1.2 trillion annually to fulfil its obligation to complete the project with China.
According to him, this is commensurate with the substantial benefits the people gain from the high-speed rail project, such as reducing traffic congestion, pollution, and enabling advanced technology transfer from China.
Bobby noted that regarding the implementation arrangements for the Whoosh project debt payment, discussions with the government are still ongoing and finalisation is being formulated.
“The implementation arrangements are being discussed with the government and are being formulated. In any case, it’s settled, it’s complete,” he said.
Meanwhile, State Secretary Minister Prasetyo Hadi affirmed that Danantara is currently conducting final-stage negotiations with China regarding the settlement of Whoosh debt.
“The latest report from the Danantara meeting yesterday still concerns finalisation. Now the technical negotiation or discussion process is being led directly by Rosan as Danantara’s CEO,” said Prasetyo at Gambir Station on Tuesday, 10 February 2026.