Indonesia's State Budget Records Rp100.4 Trillion Deficit by March 2025, Government Borrows Rp250 Trillion

Finance Minister Sri Mulyani Indrawati reported that Indonesia’s State Budget (APBN) recorded a deficit of Rp100.4 trillion, or 0.4% of GDP, as of the end of March 2025. This update was delivered during a presentation following the Financial System Stability Committee (KSSK) meeting on Thursday, April 24, 2025.

To bridge the budget gap, the government has issued Rp250 trillion in new debt up to March. This amount represents 40.6% of the total borrowing target for 2025, which is set at Rp775.9 trillion.

“Our financing realization is still on track at Rp250 trillion, which accounts for 40.6% of this year’s APBN target,” said Sri Mulyani.

Breaking down the figures, non-debt financing reached Rp20.4 trillion, issuance of government securities (SBN) totaled Rp282.6 trillion, and net loans amounted to Rp12.3 trillion.

Sri Mulyani emphasized that the government will continue its borrowing practices with prudence and calculated risk, taking into account the budget deficit outlook, government liquidity, and fluctuations in financial markets.

“We are closely monitoring market conditions, including the bond market, while ensuring a balance between debt costs and risks. The APBN will continue to serve both as a buffer for economic shocks and a catalyst for achieving development targets,” she asserted.