Sri Mulyani Says Government Debt Reaches IDR10,269 T By End Of 2024

Finance Minister Sri Mulyani reported that the state's financial position as of December 31, 2024 showed that the government's total liabilities reached IDR 10,269 trillion by the end of 2024. 

Referring to the Regulation of the Minister of Finance Number 86 of 2008 concerning the Government Accounting System, liabilities are debts arising from past events whose settlement results in an outflow of government economic resources. 

This value is part of the government's financial balance sheet which records total assets of IDR 13,692.4 trillion and an equity position of IDR 3,424.4 trillion. 

"The government's balance sheet as of December 31, 2024 reflects the state's solid financial position, total assets reaching IDR 13,692.4 trillion, liabilities position of IDR 10,269 trillion, and equity position of IDR 3,424.4 trillion," said the State Treasurer at the 21st Plenary Meeting of the Indonesian House of Representatives, Tuesday (1/7). 

"This illustrates the country's net wealth and fiscal capacity that can still be maintained and relied on to sustainably support national development needs," he added further. 

He also said that the realization of state spending in 2024 reached IDR 3,359.8 trillion, growing 7.6 percent compared to 2023. This spending is directed to protect the community, maintain stability, and support national development programs, including the implementation of elections. 

Along with that, state revenue was recorded at IDR 2,850.6 trillion or grew 2.4 percent from the previous year. 

With the difference between spending and revenue, the 2024 State Budget (APBN) deficit was at 2.3 percent of Gross Domestic Product (GDP), lower than the previous estimate of 2.7 percent. 

"This illustrates that fiscal policy is managed prudently and sustainably even though various national agenda needs continue to increase," he said. 

The woman who is familiarly called Ani explained that deficit financing was carried out with a mix of debt and non-debt. 

Throughout 2024, debt financing realization was suppressed lower than the target, thanks to the optimization of efficient and low-risk financing sources. He said Indonesia's fiscal reputation remained intact amidst the high global interest rate trend. 

From the operational side, the government recorded revenue of IDR3,115.3 trillion, but still lower than the operational burden of IDR3,353.6 trillion. 

Tag: Finance Minister Government Economic Sri Mulyani