National Debt Rises Again, Approaching Rp 10,000 Trillion, Now Equivalent to 40.75% of GDP
The government’s debt is steadily approaching Rp 10,000 trillion. As of the end of March 2026, the total government debt stood at Rp 9,920.42 trillion, an increase of Rp 282.52 trillion in just three months compared to the end of December 2025.
According to data from the Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance, the government’s debt-to-Gross Domestic Product (GDP) ratio has also risen to 40.75%. This figure is up from 40.46% of GDP at the end of 2025.
Although it has increased, the government assures that the debt ratio remains below the safe limit stipulated in the State Finance Law at 60% of GDP.
“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,” states the report on the official DJPPR website of the Ministry of Finance, quoted by detikFinance on Friday (8/5/2026).
Government debt as of the end of March 2026 is still dominated by state securities instruments (SBN). Their value reaches Rp 8,652.89 trillion, equivalent to 87.22% of the total debt.
Meanwhile, loans are recorded at Rp 1,267.52 trillion, or 12.78% of the total government debt.
“The composition of government debt is predominantly in the form of SBN instruments, reaching 87.22%,” explained DJPPR.
Finance Minister Purbaya Yudhi Sadewa previously revealed that the rise in the debt ratio to around 40% of GDP is inseparable from the pressures of the economic slowdown that occurred throughout 2025.
According to him, the addition of debt is a step taken by the government to maintain national economic stability and prevent a deeper crisis.
“This was forced due to the significant slowdown last year. What was the choice? To a condition like 1998 or to increase debt a little, but save our economy and then reorganise everything afterwards,” said Purbaya at The Tribrata Dharmawangsa, South Jakarta, on Thursday (12/2/2026).