Indonesian gov't to take on 38.8 billion USD debt to cover 2024 budget deficit
The Indonesian government is planning to take on new debt worth 600 trillion Rp (38.8 billion USD) in 2024 to cover a projected deficit in the state budget (APBN) set at 2.9% of the GDP.
The Electronic Indonesia Bond Market Directory (E-IBMD) is launched at the Indonesia Stock Exchange (IDX) in Jakarta on December 18, 2023. (Photo: ANTARA)Deni Ridwan, director of bonds at the Finance Ministry’s Financial Risk Management Directorate General, said the new debt will add to the government’s debt both in principal and interest payments.
Indonesia’s debt-to-GDP ratio is about 37%, which Deni said was relatively low compared with other ASEAN nations.
Further borrowing was necessary to finance essential infrastructure projects and social programmes, he noted.
Speaking at the Indonesia Stock Exchange (IDX) on December 18, Deni said that Indonesia’s debt has already increased in nominal terms, and with a projected average deficit of 2.9% next year, it could rise by another 600 trillion Rp if there are no reductions in the deficit.
Indonesia’s budget deficit in 2024 is forecast to be higher than the 2.27% target of GDP in 2023. The Indonesian government's budget deficit management strategy focuses on managing the debt prudently, ensuring effective debt costs through financial markets and selective loans to finance infrastructure projects and technology transfer./.
You should also see
10th anniversary of UNESCO's recognition of Trang An as world natural and cultural heritage marked
A ceremony was held in the northern province of Ninh Binh on April 26 evening to celebrate the 10th anniversary of UNESCO's recognition of Trang An Landscape Complex as a World Cultural and Natural Heritage Site.
See more
World
Vietnam appeals for maximum self-restraint, end to hostilities in Middle East
A representative of Vietnam appealed to all the parties concerned to exercise maximum self-restraint and to end hostilities, while addressing a United Nations Security Council (UNSC) open debate on the Middle East and Palestine situation on March 25.
World
Indonesia’s coffee exports surpass imports
Indonesia’s coffee exports have surpassed imports for 47 consecutive months since May 2020, the Central Statistics Agency (BPS) has reported.
World
Thailand expects wave of tourists during Golden Week
The Tourism Authority of Thailand (TAT) estimates that about 996,000 foreign tourists will visit the Southeast Asian country between April 26 and May 5, known as the Golden Week holidays in Japan, during which Chinese tourists also prefer to travel overseas.
World
Argentinian media praises Dien Bien Phu Victory
Argentinian newspapers have called Vietnam's Dien Bien Phu Victory (May 7, 1954) a symbol of the national liberation movement of oppressed and colonialised peoples worldwide.
World
Laos speeds up granting licences to foreign workers
Laos's Ministry of Labour and Social Welfare plans to issue visas to illegal foreign workers and extend permits to legal ones so that they can continue to work in the country.
