Jakarta. Indonesia’s external debt stood at $435.6 billion as of May 2025, marking a 6.8 percent increase from the same period last year, according to Bank Indonesia. However, the growth pace has moderated compared to previous months.

The central bank stressed that despite external debt growth, Indonesia’s overall external debt position remains under control and supports the country's economic resilience.

“Indonesia’s external debt growth slowed in May 2025. While it grew 6.8 percent year-on-year, this was lower than the 8.2 percent annual growth recorded in April 2025,” Bank Indonesia’s Head of Communications Department, Ramdan Denny Prakoso, said in a statement on Monday.

Ramdan noted that Indonesia’s external debt structure remains sound, supported by prudent management principles. This is reflected in the external debt-to-GDP ratio, which stood at a manageable 30.6 percent. Furthermore, nearly 85 percent of the country’s external debt is long-term in nature.

Government external debt reached $209.6 billion in May 2025, registering a 9.8 percent year-on-year increase. This also marked a slight slowdown compared to 10.4 percent growth in April 2025.

Government external debt is primarily allocated to sectors such as healthcare and social services (22.3 percent of total government external debt), public administration, defense, and compulsory social security (18.7 percent), education (16.5 percent), construction (12 percent), as well as transportation and warehousing (8.7 percent).

“The government’s external debt position remains secure, with 99.9 percent consisting of long-term debt,” Ramdan added.

Meanwhile, private sector external debt stood at $196.4 billion in May 2025, representing a 0.9 percent contraction compared to the same month last year. This decline was steeper than the 0.4 percent contraction recorded in April.

“Private sector external debt continues to be dominated by long-term obligations, accounting for 76.5 percent of the total,” Ramdan said.

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