Achievement of Jokowi, Foreign Debt Becoming Increasingly Rp4.202 Trillion

Jakarta, Aktual.com – political economic analyst of the Center Political Economic Studies University of Bung Karno, Salamuddin Daeng mention, in addition to the state budget that failed reach targets, the overall financial sector in the era of Jokowi is facing a very serious problem.

“The big problem was triggered by the government and private debt that the greater in the country and abroad,” said Daeng to Aktual.com in the information received, on Thursday (19/5).

According to him, even the rating agencies such as Moody’s agency stated, although the government debt are moderate, but if it is seen that unstable exchange rates exposes government debt at substantial risk.

Based on data that we get, as many as 38 percent of municipal bonds are foreign currency and overseas investment. The danger is, since the beginning of May 2016 the rupiah against the US dollar showed a sharp downward trend.

“While private debt face problems far more severe. Even Moody’s specifically provides a warning to the private sector debt,” he stated.

He again revealed, this time in the position of the government debt of 26.8 percent of GDP and private debt amounted to 23.7 percent of GDP.

“Private debt has increased by 11.3 percent from 2010, from 12.4 percent of GDP to 23.7 percent of GDP and is dominated by foreign currency,” she remembers.

According to Bank Indonesia (BI), he said, the government’s foreign debt until the first quarter of 2015 amounted to US $ 151.312 billion. While private foreign debt worth US $ 164.673 billion.

“So overall foreign debt and the private sector reached US $ 315.985 billion or Rp. 4,202 trillion,” he said.

The addition of a large foreign debt was also contributed by the Government’s Joko Widodo. Since starting to rule the fourth quarter of 2014 and the first quarter of 2016, foreign debt increased by US $ 21.576 billion, and increased private sector worth US $ 22.657 billion.

“So overall foreign debt increased Rp.588,30 trillion,” he said.

Meanwhile, he added, the government’s domestic debt in the form of Government bonds reached Rp1,327,44 trillion and has increased Rp235,09 trillion worth between September 2014 – December 2015.

“So, the Jokowi government is the most accomplished in creating this debt,” he added.

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