Indonesia Meets Indicative Target of IDR 10 Trillion in State Sukuk Auction Amidst Rising Demand

The Government of Indonesia has met its indicative target of IDR 10 trillion from its biweekly auction of State Shariah Securities (SBSN), also known as State Sukuk, held on the 4th of May 2021, according to a statement issued by the Directorate General of Budget Financing and Risk Management (DJPPR), Ministry of Finance. Total entry bids reached IDR 19.906 trillion, which was higher than that received from the previous auction which came up to IDR 17.909 trillion and raised IDR 7.365 trillion.

Why it Matters?

The funds obtained in the State Sukuk auction will be used by the Government to fulfil part of its financing target in the 2021 State Revenue and Expenditure Budget (APBN). The latest auction reflected a continued increase in investor demand and th...