2022 State Budget: Fiscal Policy and Structural Reform
Healthy External Debt Profile
External Debt Structure
Private External Debt
■Public External Debt
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Q1-2019
Q2-2019
Q3-2019
Q4-2019
Q1-2020*
Q2-2020*
Q3-2020*
Jan-21*
Q4-2020*
Feb-21*
Apr-21*
Mar-21*
May-21*
External Debt Remains Manageable
Million USD
External Debt
External Debt (rhs)
450,000
17.1
400,000
350,000
300,000
12.0
115
10.2
10.1
250,000
11.3
8.0
200,000
6.5
5.9
150,000
100,000
50,000
2009
2010
Source: Bank Indonesia, External Debt Statistics
0
2011
2012
5.4
2013
O
2014
>
2015
2016
2017
3.0
2018
Q1-2019
502-2019
Q3-2019
9.9 10.2
7.5
0.3
4.8
The Structure of External Debt is Dominated by Long-Term Debt
Short Term External Debt ■Long Term External Debt
100%
90%
80%
50.7
70%
60%
50%
40%
30%
49.3
20%
10%
84.7
15.3
0%
Jun-21*
Jul-21*
Aug-21**
Sep-21*
Oct-21*
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Q1-2019
Q2-2019
Q3-2019
Q4-2019
Q1-2020*
Q2-2020*
Q3-2020*
Q4-2020*
Jan-21*
Feb-21*
Mar-21*
Apr-21*
May-21*
Jun-21*
Jul-21*
Aug-21**
Sep-21*
Oct-21*
%
%
20.0
240
32.9
18.0
External Debt to GDP Ratio & Debt to Export Ratio
34.334.7
36.036.736.536.136.1
36.1
220 31.8
29.1
16.0
27.4
200
26.5
25.0
14.0
180
12.0
10.0
160
6.8
8.0
140
139.5
6.0
120
3.7 3.3
3.6
121.8
4.0
114.9
100
1.7
2.0
80
88
Q1-2021*
Q2-2021*
Q3-2021*
0.0
*Provisional Figures
2009
2010
2011
2012
2013
2014
2015
123.1
113.8
101.0
2016
2017
2018
Q1-2019
Q2-2019
**Very Provisional Figures
%
37.338.1
39.439.1
37.537.0 40
34.4
35
214.8
30
206.9 208.9
197.2
189.5
176.1
168.4
168.672.268.472.0
183.3
77.0
177.2
175. 20
Q3-2019
Q4-2019
Q1-2020*
Q2-2020*
Q3-2020*
Q4-2020*
Q1-2021*
Q2-2021*
Q3-2021*
External Debt/Export Ratio
(rhs)
External Debt/ GDP Ratio
122250
Q4-2019
Q1-2020*
02-2020*
Q3-2020*
Q4-2020*
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