Sri Mulyani Reveals Reasons for Government Withdrawal of Rp. 243.9 Trillion New Debt

Sri Mulyani Reveals Reasons for Government Withdrawal of Rp. 243.9 Trillion New Debt

The Ministry of Finance (Kemenkeu) noted that the realization of debt financing in the 2023 State Revenue and Expenditure Budget (APBN) reached IDR 243.9 trillion as of April 2023. 

Minister of Finance Sri Mulyani Indrawati said this realization was equivalent to 35 percent of the financing target in the 2023 State Budget, which is IDR 696.3 trillion. 

"Until the end of April, debt issuance reached IDR 243.9 trillion," he said at the KiTa State Budget press conference, Monday (22/5/2023). 

The state treasurer further stated that the realization of the financing shot up 55.9 percent compared to the same period last year. 

The rapid growth in financing realization is in line with the government's front loading strategy, in anticipation of the lag effect from the increase in the benchmark interest rates of the US central bank, The Federal Reserve (The Fed) and Bank Indonesia (BI). 

"Indeed (the increase in financing) anticipates an increase in the Fed Fund Rate and domestic interest rates," said Sri Mulyani. 

If looked at in more detail, debt financing is still dominated by the issuance of Government Securities (SBN) whose value has reached IDR 240 trillion, or the equivalent of 33.7 percent of the 2023 state budget allocation, and grew 68.8 percent from April 2022. 

Even though the realization of SBN issuance grew rapidly, the Ministry of Finance (Kemenkeu) ensured that the management and timing of debt issuance through SBN was in accordance with the government's financing strategy. 

"We anticipate that in this case, with a large enough revenue, in terms of issuance of SBN, we can reduce issuance according to our financial condition which is quite good in the first quarter," said Sri Mulyani. 

Meanwhile, actual financing from loans amounted to IDR 3.9 trillion, 72.7 percent lower than the same period last year which reached IDR 14.2 trillion. 

Sri Mulyani Ungkap Alasan Pemerintah Tarik Utang Baru Rp 243,9 Triliun

Kementerian Keuangan (Kemenkeu) mencatat, realisasi pembiayaan utang di Anggaran Pendapatan dan Belanja Negara (APBN) 2023 mencapai Rp 243,9 triliun sampai dengan April 2023.

Menteri Keuangan Sri Mulyani Indrawati mengatakan, realisasi tersebut setara dengan 35 persen dari target pembiayaan dalam APBN tahun anggaran 2023 yakni sebesar Rp 696,3 triliun.

"Penerbitan utang sampai dengan akhir April mencapai Rp 243,9 triliun," ujar dia dalam konferensi pers APBN KiTa, Senin (22/5/2023).

Lebih lanjut bendahara negara menyebutkan, realisasi pembiayaan itu melesat 55,9 persen dibanding periode yang sama tahun lalu.

Pesatnya pertumbuhan realisasi pembiayaan selaras dengan strategi front loading pemerintah, guna mengantisipasi lag effect dari kenaikan tingkat suku bunga acuan bank sentral AS, The Federal Reserve (The Fed) dan juga Bank Indonesia (BI).

"Memang (kenaikan pembiayaan) mengantisipasi kenaikan suku bunga Fed Fund Rate maupun suku bunga dalam negeri," kata Sri Mulyani.

Jika dilihat secara lebih rinci, pembiayaan utang masih didominasi oleh penerbitan Surat Berharga Negara (SBN) yang nilainya telah mencapai Rp 240 triliun, atau setara 33,7 persen alokasi APBN 2023, serta tumbuh 68,8 persen dari April 2022.

Meskipun realisasi penerbitan SBN tumbuh pesat, Kementerian Keuangan (Kemenkeu) memastikan, pengelolaan dan timing penerbitan utang melalui SBN sudah sesuai strategi pembiayaan pemerintah.

"Kita mengatisipasi dalam hal ini dengan penerimaan yang cukup besar maka dari sisi penerbitan SBN, maka bisa dilakukan penurunan penerbitan sesuai dengan kondisi keuangan kita yang cukup baik pada kuartal pertama ini," tutur Sri Mulyani.

Sementara itu, realisasi pembiayaan dari pinjaman sebesar Rp 3,9 triliun, lebih rendah 72,7 persen dari periode yang sama tahun lalu mencapai Rp 14,2 triliun.