JAKARTA. The government debt as of August 2021 had reached IDR 6,625.43 trillion, leading to a debt-to-GDP ratio of 40.84%. With this record, the government would implement debt management by keeping domestic government debt securities composition higher than foreign currency debts.
The total debt as of August indeed increased from July 2021 of IDR 6,570.17 trillion as the debts from domestic Government Securities were seen rising to IDR 80.1 trillion. On the contrary, the foreign currency debts depleted to IDR 15.42 trillion.
The Ministry of Finance in the Performance and Facts State Budget 2021 report confirmed that the central government debt had, in fact, climbed by IDR 55.27 trillion from July 2021.
Furthermore, the ministry revealed that all countries, particularly developing countries, are seeing a similar debt increment as the expenditure swelled. It is mostly related to the healthcare and social protection for their citizens during the pandemic. Until August 2021, the ministry noticed that the tax income only reached IDR 741.3 trillion, while the total spending amounted to IDR 1,560.8 trillion. (AM/ZH)