Business · Economy · 3 hrs ago
Hashim says Indonesia’s debt ratio is about 40% of GDP
Hashim Djojohadikusumo said Indonesia’s debt is low at about 40% to 41% of gross domestic product, or GDP.
He made the remarks at a national meeting of Indonesia’s Chamber of Commerce and Industry in Jakarta on October 29.
He rejected claims that debt puts Indonesia at risk of a crisis, calling such claims on social media unfounded.
Hashim cited figures of 61% for Malaysia, 57% for Vietnam and 54% for Thailand, as well as higher ratios for the United States, Japan and China.
The comparison is meant to show Indonesia’s debt level is relatively low, although the two accounts differ on whether the figures come from the World Bank alone or from the World Bank and the IMF.
Hashim also said that cash transactions not recorded or taxed mean some economic activity is missing from official figures.
He argued that better collection of taxes and revenue could strengthen the country, but no next steps were specified.
Hashim Djojohadikusumo said Indonesia’s debt-to-GDP ratio is about 40 to 41 percent.
He described the ratio as among the world’s lowest and rejected claims that the country is burdened by debt.
He cited Malaysia at 61 percent, Vietnam at 57 percent and Thailand at 54 percent for comparison.
Hashim made the remarks while opening the Indonesian Chamber of Commerce and Industry’s national leadership meeting in Jakarta on October 29, 2026.
He also said unrecorded economic activity may mean Indonesia’s economy is 35 to 40 percent larger than its recorded GDP.
- Who
- Hashim Djojohadikusumo, the president’s special envoy for climate and energy and chair of Kadin’s Advisory Council.
- What
- He said Indonesia’s debt-to-GDP ratio is about 40 to 41 percent and among the world’s lowest.
- When
- October 29, 2026.
- Where
- Jakarta, at the opening of Kadin’s national leadership meeting.
- Why
- He was rejecting claims that Indonesia faces a crisis because of its national debt.
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- Indonesia debt-to-GDP ratio
- About 40 to 41 percent
- Malaysia debt-to-GDP ratio
- 61 percent
- Vietnam debt-to-GDP ratio
- 57 percent
- Thailand debt-to-GDP ratio
- 54 percent
- Unrecorded economic activity
- Hashim said it may make Indonesia’s economy 35 to 40 percent larger than recorded GDP.
2 sources
What people are saying
Many question the nation's debt, claiming Indonesia is burdened by debt, but that is false
According to the IMF and World Bank, our country's debt is among the lowest in the world. That is the reality.
Our authorities have been somewhat weak; revenues from both recorded and unrecorded sources are not collected. That's what weakens us.