Indonesia's External Debt Manageable in Q3 2019

    Wahyu Dwi Anggoro - 15 November 2019 12:55 WIB
    Indonesia's External Debt Manageable in Q3 2019
    Illustration ( Rizal)
    Jakarta: Indonesia's external debt was managed with a healthy structure at the end of third quarter of 2019. 

    The external debt was recorded at USD395.6 billion at the end of Q3/2019, consisted of public debt (government and central bank) of USD197.1 billion, as well as private debt (including state-owned enterprises) amounted to USD198.5 billion. 

    Indonesia’s external debt grew 10.2 percent (yoy), relatively stable compared with the previous quarter, which was influenced by higher growth of government debt amid lower growth of private debt.

    "The rise in government external debt was in line with investor confidence in the national economic outlook," Bank Indonesia (BI) said in a press statement released on Friday, November 15, 2019.

    In the Q3/2019, government external debt position was recorded at USD194.4 billion or grew 10.3 percent (yoy), up from 9.1 percent (yoy) in the previous quarter. 

    The largest portion of financing is directed towards productive sectors that promoting growth and improving public welfare, among others, human health & social work activities sector (19.0 percent of government external debt), construction sector (16.5 percent), education sector (16.0 percent), public administration, defense & compulsory social security sector (15.3 percent), and financial & insurance sector (13.7 percent).

    "Growth of private external debt slowed from the previous quarter," the central bank stated.

    At the end of Q3/2019, private external debt growth declined to 10,4 percent (yoy) from 11.3 percent (yoy) in the last quarter, stemmed primarily from the declining position of banks’ external debt. 

    Private external debt was dominated by the financial & insurance sector, manufacturing sector, electricity, gas, & water supply sector, and mining & drilling sector whose share amounted to 75,4 percent to total private external debt.

    "Indonesia's external debt maintained a healthy structure supported by the prudential principle application in its management," it noted.

    The condition was reflected in, among others, improvement of Indonesia's external debt to Gross Domestic Product (GDP) ratio in the Q3/2019 at 36.3 percent. 

    Moreover, Indonesia's external debt structure remained dominated by long-term debt, accounted for 88.1 percent of the total external debt. 


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