Indonesia’s government debt has continued to increase significantly on both a monthly and yearly basis, primarily driven by the issuance of government securities (SBN), especially domestic SBN.

The Ministry of Finance reported that as of May 2024, the government debt position reached Rp8,353.02 trillion (about US$511 billion). This figure is up Rp565 trillion from May 2023 and up Rp14.59 trillion from April 2024.

Minister of Finance Sri Mulyani Indrawati said in the Finance…