JAKARTA – Foreign debts were reported to increase to USD 423.1 billion by the end of September 2021, shifting 3.7% from the number recorded in the same period last year of USD 408.1 billion. Fortunately, it shrank from debts reported in August 2021 of USD 423.9 billion.
Erwin Haryono, Executive Director, Head of Communication Department of Bank Indonesia (BI), announced that this debt growth was a result of increased public and private debts. “The debts are considered under control as seen through the ratio to Gross Domestic Product (GDP) of 37%, lower than the previous quarter’s ratio of 37.5%,” he added in the press release, quoted Monday (15/11).
The foreign debts comprised government and central bank debts of USD 214.6 billion, claiming USD 205.5 billion and USD 9.1 billion, respectively. Then, the private debts reached USD 208.4 billion, including financial institutions of USD 42.8 billion and non-financial institutions of USD 165.6 billion.
By the end of Q3 last year, government and central bank debts amounted to USD 197.3 billion and USD 2.7 billion. Meanwhile, the private sector debts were USD 208.02 billion, including financial institutions of USD 44.86 billion and non-financial institutions of USD 163.9 billion. (LK/ZH)