Michelle Natalia
"Such developments were underpinned by external debt at non-financial and financial corporations, which experienced a 5.3% (yoy) and 7.6% (yoy) contractions, respectively, compared with 4.8% (yoy) and 3.9% (yoy) contractions one month earlier," he continued.
By sector, the main contributors to private external debt in the reporting period were insurance and financial services; the manufacturing industry; electricity, gas, steam and air conditioning supply; as well as mining and quarrying, accounting collectively for 78.0% of total private external debt.
Furthermore, 74.8% of total private external debt was dominated by long-term tenors.
"The structure of external debt in Indonesia remains sound, supported by prudential management. External debt was still manageable in May 2023, as reflected by a ratio of external debt to gross domestic product (GDP) of 29.7% in the reporting period, down from 30.0% one month earlier," he stressed.
In addition, the sound structure of external debt in Indonesia is dominated by long-term debt, accounting for 87.3% of total external debt.
