Finance Minister States Government Debt of Rp 9,920.42 Trillion Remains Safe, Purbaya Explains Reasons

Finance Minister Purbaya Yudhi Sadewa has assured that the current government debt remains safe. As recorded up to the end of March 2026, the government’s debt position has reached Rp 9,920.42 trillion.

Although this amount has surged by Rp 282.52 trillion compared to the end-of-December 2025 position of Rp 9,637.90 trillion, Purbaya emphasised that the figure is still safe because its ratio stands at 40.75% of Gross Domestic Product (GDP).

This is because the safe limit for government debt, as stipulated in the State Finance Law, is 60% of GDP.

“It remains safe, still just over 40%, so it’s safe,” said Purbaya during a media briefing at the Ministry of Finance in Jakarta on Monday, 11 May 2026.

“Because if we look at it, the strictest benchmark in Europe is a debt-to-GDP ratio of 60%, and we’re still far from that,” he stated.

Moreover, Purbaya compared Indonesia’s debt ratio, which is still lower than that of other countries. For instance, Malaysia has a debt ratio exceeding 60%, or even Singapore, which has reached 180%.

“So they all have high ratios. We are among the most cautious (in managing debt) compared to the countries around us, and also compared to the US and Japan,” said Purbaya.

Therefore, Purbaya hopes that the government’s debt figure is not viewed solely from a negative perspective. He assured that the government will always manage debt with great care, so the public should actually praise this.

“So if you look at it that way, you should be praising us. But you never do, right? Why do you always look at the negative side?” he remarked.

It is known that the Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance stated that the government’s debt position as of the end of March 2026 reached Rp 9,920.42 trillion, equivalent to 40.75% of Gross Domestic Product (GDP).

The breakdown includes two types of debt: Government Securities (SBN) and loans. The majority of the government’s debt as of the end of March 2026 is dominated by SBN instruments amounting to Rp 8,652.89 trillion or 87.22%, with the remainder being loans of Rp 1,267.52 trillion or 12.78%.

“The government manages debt prudently and in a measured manner to achieve an optimal debt portfolio and support the development of the domestic financial market,” as quoted from the DJPPR website on Monday, 11 May 2026.