TEMPO.CO, Jakarta – Indonesia's Ministry of Finance reported that the government had raised Rp386 trillion (around US$23.7 billion) in new debt as of May 31, 2026, equivalent to 46.4 percent of this year's debt financing target of Rp832.2 trillion under the state budget.
According to ministry data, the debt issuance was partially offset by non-debt financing of minus Rp6.5 trillion, bringing total budget financing realization to Rp379.4 trillion by the end of May.
Finance Minister Purbaya Yudhi Sadewa said the level of financing remains manageable, supported by a strong fiscal position. Indonesia recorded a primary budget surplus of Rp58.6 trillion during the period, meaning government revenues exceeded expenditures excluding interest payments.
“Financing is proceeding normally because the primary balance remains in surplus at Rp58.6 trillion,” Purbaya said during the ministry's monthly state budget briefing on Friday, June 5.
Budget financing is used to cover the 2026 state budget deficit, which is projected to reach Rp689 trillion. As of May, overall financing realization had reached 55.1 percent of the annual target.
Purbaya also sought to reassure investors amid ongoing volatility in global financial markets, saying demand for Indonesian government bonds remains strong.
“There is still significant investor interest in our government bonds, and we have not seen any loss of confidence in these instruments,” he said.
Under the 2026 State Budget Law (Law No. 17/2025), the government's debt financing target was set at Rp832.2 trillion, higher than the Rp775.9 trillion target in 2025.
Meanwhile, data from the Directorate General of Financing and Risk Management showed that Indonesia's outstanding government debt stood at Rp9,920.42 trillion as of March 31, 2026.
Government securities (SBN) accounted for the largest share, making up 87.22 percent of total debt. Debt from government securities amounted to Rp8,652.89 trillion, while outstanding loans totaled Rp1,267.52 trillion.
Read: Indonesians Urged to Sell Dollars to Rescue Rupiah
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