"The low ratio of government debts to the GDP is one of the indicators of the ever increasingly stronger national fiscal resilience," President Susilo Bambang Yudhoyono said.Jakarta (ANTARA News) - The Indonesian government is trying to cut the ratio of its debts to gross domestic product (GDP) at the end of 2014 to 22-23 percent to achieve sustainable fiscal self-reliance.
"The low ratio of government debts to the GDP is one of the indicators of the ever increasingly stronger national fiscal resilience," President Susilo Bambang Yudhoyono said when delivering the draft 2014 state budget and financial notes at the House of Representatives (DPR) plenary session here on Friday.
The ratio is far lower than those of other developing nations which reach 33 percent, the President noted.
The effort to cut the ratio has improved the government`s debt rating which currently reaches investment grade, he said.
To maintain the investment grade, the government will always manage its debts in a cautious, transparent and credible manner according to the international standard, he said.
The President went on to say that according to the mandate of the 1945 Constitution, the government is obliged to carry out various priorities, improve the nation`s dignity, and increase the living standard of the entire Indonesian people.
Therefore, development planning and budgeting must be conducted in a flexible way to face challenges and achieve the target, he said.(*)
Editor: Heru Purwanto
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