2022 State Budget and Fiscal Incentives Presentation
2021 Financing Needs
Include National Economic Recovery (PEN) program funding
Government Securities (GS)
Loan
Budget Deficit 2021
Domestic GS
80-85%
Domestic Loan
IDR2.7 T
Foreign Loan -
e.q US$ 2
Foreign
12-15%
Project
bio
Denominated Bonds
APBN: 1,006 T
Outlook: 939,6 T
GS Policy:
Retail GS
3-6%
Foreign Loan -
Program
e.q US$ 5
- 6 bio
Loan Policy:
(APBN & Outlook:
5,7% of GDP)
+
Investment financing
Lending
Liabilities
Other financing
Matured debt
Optimization of medium-long
tenor domestic GS to mitigate
refinancing risk
$ Foreign GS as a complement to
avoid the crowding out effect
Retail GS to increase participation
public in financing development
Measurable private placements,
consider needs financing and
state treasury conditions
Coordination with Bl in
fulfillment GS issuance target
Program loans can be
optimized up to USD6
...billion at capacity
lenders with
consideration
cost and risk
USD2 billion project
loan according to
implementing capacity
project
Flexibility of use
program loan with
target issuance of
foreign GS
Source: Ministry of Finance
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