KBRN, Jakarta: Indonesia’s external debt fell to USD 423.9 billion in October 2025 as careful public debt management and strong foreign inflows helped maintain economic stability amid global uncertainties.
“On a yearly basis, Indonesia’s external debt grew 0.3 percent year on year (YoY), mainly driven by public sector borrowing,” said Ramdan Denny Prakoso, Executive Director of BI’s Communication Department, in a statement on Monday, December 15, 2025, in Jakarta, as quoted by Antara.
Public debt stood at USD 210.5 billion, rising 4.7 percent YoY. The increase reflects strong foreign inflows into Indonesian government bonds (SBN) amid continued investor confidence in Indonesia’s positive economic outlook, despite rising global financial market uncertainty.
“External debt, as a key instrument to finance the state budget, is managed carefully, transparently, and is directed to fund priority programs that support sustainability and strengthen the national economy,” Ramdan added.
Government external debt primarily financed: health and social services (22.2 percent); public administration, defense, and social security (19.6 percent); education services (16.4 percent); construction (11.7 percent), and transportation and warehousing (8.6 percent).
Long-term debt dominated government external debt, accounting for 99.99 percent of the total.
Meanwhile, private sector external debt fell to USD 190.7 billion in October 2025, down from USD 192.5 billion in September. Year-on-year, private sector debt contracted 1.9 percent, mainly due to declines in financial corporations (-4.7 percent YoY) and nonfinancial corporations (-1.2 percent YoY).
The private sector’s largest debt contributors were manufacturing, financial and insurance services, electricity and gas supply, and mining, representing 80.9 percent of total private external debt.
BI emphasized that Indonesia’s external debt structure remains healthy, reflecting prudent management. The debt-to-GDP ratio stood at 29.3 percent in October 2025, with long-term debt accounting for 86.2 percent of total debt.
To maintain debt sustainability, Bank Indonesia and the government continue to coordinate on monitoring developments. External debt will continue to support development financing and sustainable economic growth while minimizing risks to macroeconomic stability.

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