Jakarta (VNA) - Indonesia's foreign debt has exceeded 400 billion USD as of November 2023, up 2% year-on-year, Bank Indonesia (BI) has announced.
The central bank said that the Southeast Asian country's foreign debt remains under control.
As reported by the local news site tempo.com, BI Assistant Governor Erwin Haryono said in an official statement on January 15 that the position of government foreign debt is relatively safe and under control considering that almost all external debt has long-term tenors with a share of 99.8% of the total government external debt.
According to the official, the expansion of foreign loans was mainly caused by the public sector's external debt transactions. Indonesia's maintained foreign debt in November 2023 can be seen from the ratio of external debt to Gross Domestic Product (GDP) of 29.3%. Another indication is the dominance of long-term foreign debt, which accounted for 87.1% of the total.
On a monthly basis, last year’s November foreign debt position stood at 192.6 billion USD, up 6% year on year.
Based on the economic sector, the private sector's biggest foreign debt was from the processing industry; financial services and insurance industry; electricity, gas, steam/hot water and cold air procurement; as well as mining and quarrying, which made up of 78.6% of the total debt.
Erwin said that private sector's foreign debt was still dominated by long-term loans, which accounted for 75.5% of the total debt./.
The central bank said that the Southeast Asian country's foreign debt remains under control.
As reported by the local news site tempo.com, BI Assistant Governor Erwin Haryono said in an official statement on January 15 that the position of government foreign debt is relatively safe and under control considering that almost all external debt has long-term tenors with a share of 99.8% of the total government external debt.
According to the official, the expansion of foreign loans was mainly caused by the public sector's external debt transactions. Indonesia's maintained foreign debt in November 2023 can be seen from the ratio of external debt to Gross Domestic Product (GDP) of 29.3%. Another indication is the dominance of long-term foreign debt, which accounted for 87.1% of the total.
On a monthly basis, last year’s November foreign debt position stood at 192.6 billion USD, up 6% year on year.
Based on the economic sector, the private sector's biggest foreign debt was from the processing industry; financial services and insurance industry; electricity, gas, steam/hot water and cold air procurement; as well as mining and quarrying, which made up of 78.6% of the total debt.
Erwin said that private sector's foreign debt was still dominated by long-term loans, which accounted for 75.5% of the total debt./.
VNA
