Nia Deviyana
Such developments were underpinned by external debt at non-financial and financial corporations, which experienced deeper 2.9% (yoy) and 3.5% (yoy) contractions respectively compared with 1.4% (yoy) and 2.7% (yoy) contractions in the fourth quarter of 2022.
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 77.9% 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,” he stated.
External debt was still manageable in the first quarter of 2023, as reflected by a stable ratio of external debt to gross domestic product (GDP) maintained at 30.1%.
In addition, the sound structure of external debt in Indonesia is dominated by long-term debt, which accounted for 87.6% of total external debt in the reporting period.
