Illustrative image (Photo: Antara) Jakarta (VNA) – The Indonesian Ministry of Finance said on June 17 the country’s total public debts hit over 5.2 quadrillion rupiah (5 billion USD) as of May, much higher than the previous month and the same period last year.
Finance Minister Sri Mulyani Indrawati attributed the swelling debt to the Government’s expenditure to fund the national economic recovery programme in the context of the COVID-19 pandemic.
The public debts in May were mostly government securities with more than 4.44 quadrillion rupiah and other debts.
The minister said public debts accounted for 32.09 percent of the gross domestic product (GDP) as of the late May, which remain safe in accordance with the Finance Law that allows a maximum 60 percent of the GDP./.
Finance Minister Sri Mulyani Indrawati attributed the swelling debt to the Government’s expenditure to fund the national economic recovery programme in the context of the COVID-19 pandemic.
The public debts in May were mostly government securities with more than 4.44 quadrillion rupiah and other debts.
The minister said public debts accounted for 32.09 percent of the gross domestic product (GDP) as of the late May, which remain safe in accordance with the Finance Law that allows a maximum 60 percent of the GDP./.
VNA
