Indonesia Faces Triple Deficit, Requires Significant Fresh Funds from Investors

Jakarta, CNBC Indonesia - Chief Economist of PT Bank Mandiri (Persero) Tbk, Andry Asmoro, has stated that Indonesia currently requires investment from foreign investors to address three deficits: the state budget (APBN) deficit, the current account deficit, and the saving-investment gap.

“We are facing a situation where three deficits are occurring at present, namely the APBN deficit, the current account deficit, and also the saving-investment gap,” said Asmoro on CNBC Indonesia’s Squawk Box programme on Thursday (13/8/2026).

According to him, to resolve this triple deficit problem, the government can invite foreign investors to invest more capital in Indonesia by consistently creating and maintaining pro-investor policies.

The scope of this investment includes not only real investment but also investment in the money market.

To address the fiscal deficit, Asmoro said, the government can invite investors to purchase government bonds as a source of state funding.

“From the fiscal side, the deficit means the need for foreign financing is also large, for example to buy bonds,” said Asmoro.

“Furthermore, looking at the current account, we need foreign inflows into equities in the stock market, into bonds, and also into direct investment,” Asmoro continued.

In addition, Asmoro said Indonesia already has one asset to attract foreign capital inflows into the country, namely second-quarter economic growth.

As is known, Indonesia’s economic growth in the second quarter reached 5.29 percent. This growth can serve as an attraction for investors, according to Asmoro, because it was achieved amid a global economic climate that could potentially slow and geopolitical risks.

“We see here that the government has already taken initial steps to bolster confidence that economic growth has begun to be relatively better going forward,” he added.