Michelle Natalia
“Such development was underpinned by external debt at financial and non-financial corporations, which experienced a 6.2% (yoy) and 2.7% (yoy) contraction, respectively,” he stated.
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 78.2% of total private external debt.
Furthermore, 75.4% 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 February 2023, as reflected by a ratio of external debt to gross domestic product (GDP) maintained at 29.9% in the reporting period, retreating slightly from 30.3% one month earlier,@ he continued.
In addition, the sound structure of external debt in Indonesia is dominated by long-term debt, accounting for 87.6% of total external debt.
