Indonesia to Seek More Financing in 2021 to Fund Economic Recovery

Indonesia's debts are expected to increase significantly in 2021 as the Government of Indonesia intends to increase its spending to help the country recover from the COVID-19 pandemic, according to the Indonesian Ministry of Finance’s Fiscal Policy Agency Head, Febrio Nathan Kacaribu.

According to Kacaribu, Indonesia’s debt to gross domestic product (GDP) ratio will increase to between 33.8% and 35.8% in 2021 compared to 29.8% recorded at the end of 2019. Kacaribu added that the Ministry would continue to look at various financing sources to maintain a healthy debt ratio. 

According to local media reports, the Government of Indonesia is projecting the budget deficit to re...