Jakarta. Finance Minister Purbaya Yudhi Sadewa on Monday said the government debt position, which is approaching Rp 10,000 trillion, remains within safe limits despite continued increases in state borrowing.

As of the end of March 2026, Indonesia’s total government debt stood at Rp 9,920.42 trillion ($571 billion), equivalent to 40.75% of gross domestic product (GDP).

According to Purbaya, the ratio remains comfortably below the maximum 60% debt-to-GDP threshold stipulated under the State Finance Law.

“If we use the strictest European benchmark, the debt-to-GDP ratio limit is 60%. We are still slightly above 40%, so it remains safe,” Purbaya told reporters in Jakarta.

He also compared Indonesia’s debt ratio with neighboring countries and advanced economies that carry significantly larger debt burdens, including Singapore, which he said has a debt-to-GDP ratio of around 180%.

Purbaya argued that Indonesia has consistently applied prudent and cautious debt management policies.

“We are among the most careful compared with countries around us, as well as compared with the United States and Japan,” he said.

He urged the public to take a more balanced view of Indonesia’s debt management, noting that the country’s debt ratio remains relatively low by global standards.

“So if you look at it from that perspective, you should praise us. But people rarely do, because they always focus on the negative side,” Purbaya said.

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